Joint Select Committee Testimony

1

Putting the federal budget on a sustainable path will require significant changes in spending policies, tax policies, or both. Addressing that formidable challenge is complicated by the weakness of the economy.

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Budget Control Act Enforcement

2

If legislation originating from the Congressional Joint Select Committee on Deficit Reduction is not enacted by January 15, 2012, spending would automatically be cut starting in fiscal year 2013.

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CBO's Updated Budget and Economic Outlook

3

CBO projects a $1.3 trillion deficit for 2011, the third-largest shortfall in the past 65 years. Economic recovery is likely to remain sluggish and recent turmoil in financial markets threatens to prolong the slump.

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    Highlighted Issues

    Budget & Economy

    CBO's latest budget projections, economic forecast, long-term budget outlook, statutory reports, and links to historical data.
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    Employment

    CBO's analyses of policies to reduce unemployment, studies of general labor market issues, and cost estimates for employment-related legislation.
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    Health Care

    CBO's analyses and cost estimates for the 2010 health legislation and other legislation related to Medicare, Medicaid, CHIP, and veterans' and military health care.
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    Director's Blog

    September 29:Some Context for Thinking About Deficit Reduction: Spending for Programs Other Than Social Security and Major Health Care Programsread more >

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    Frequently Requested

    Budget and Economic Outlook: An Update
    August 24, 2011

    CBO's 2011 Long-Term Budget Outlook
    June 22, 2011

    An Analysis of the President's Budgetary Proposals for Fiscal Year 2012
    April 15, 2011

    Reducing the Deficit: Spending and Revenue Options
    March 10, 2011

    Budget and Economic Outlook: Fiscal Years 2011 to 2021
    January 26, 2011

    Selected CBO Publications Related to Health Care Legislation, 2009-2010
    December 22, 2010

    Policies for Increasing Economic Growth and Employment in 2010 and 2011
    January 2010

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