Senate Budget Committee Analysis Of CBO Baseline Outlook

Feb 5, 2014 · WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued a statement today as the Committee released a staff analysis of the …

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FAQs about Senate Budget Committee Analysis Of CBO Baseline Outlook Coupon?

What are CBO budget projections?

As required by the Budget Act, CBO regularly publishes projections of budgetary and eco-nomic outcomes that are based on the assumption that current laws about federal spending and revenues will generally remain in place. Those baseline projections cover the 10-year period used in the Congressional budget process. ...

Should CBO budget and economic projections be consistent?

CBO’s projections of spending and revenues need to be consistent with its economic projections (and vice versa). Cost estimates and analytic reports must be consistent with the budget and economic projections. ...

What is a CBO analysis of the President's budget?

Typically, CBO’s analysis of the President’s budget includes a comparison of the agency’s projections of deficits under the President’s budget with those of the Administration. ...

What is a CBO baseline?

A CBO baseline is a 10-year projection of the federal budget that operates off current law. It includes projections for mandatory and discretionary spending, revenue, surplus, deficit, debt, and updated economic figures. Generally, the CBO baseline is important because it provides a neutral reference point for evaluating the potential effects of proposed legislation. ...

How does CBO provide budgetary and economic information?

CBO provides budgetary and economic information in a variety of ways and at various points in the legislative process. As required by the Budget Act, CBO regularly publishes projections of budgetary and eco-nomic outcomes that are based on the assumption that current laws about federal spending and revenues will generally remain in place. ...

What is a CBO budget baseline?

Several times per year, CBO issues a "budget baseline" that projects taxes and spending over a ten-year period. CBO's baseline is not meant to be a prediction of what will happen but rather is meant provide a neutral benchmark against which to measure the effects of future legislation. ...