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An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022
The federal budget deficit for fiscal year 2012 will total $1.1 trillion, CBO estimates. Federal debt held by the public will reach its highest level since 1950 by the end of this fiscal year.
- The economic recovery will continue at a modest pace for the remainder of calendar year 2012.
- The unemployment rate will stay above 8% for the rest of this year.
Health Care Analyses
CBO released two reports related to the Affordable Care Act (ACA):
- One report presents updated projections of the budgetary effects of the coverage provisions of the ACA to reflect the Supreme Court's recent decision.
- The other report presents a cost estimate for the repeal of the ACA that passed the House of Representatives on July 11th.
The Distribution of Household Income and Federal Taxes, 2008 and 2009
The recent recession has had a substantial impact on income, the amount of taxes owed, and average tax rates. Changes in households’ before-tax income and average tax rates in 2008 and 2009 were substantial and differed markedly across the income distribution.
Long-Term Implications of the 2013 Future Years Defense Program
CBO projects that DoD’s plans will cost $123 billion, or 5 percent, more to execute through 2017 than DoD estimates. CBO also projects that the cost of DoD’s plans will exceed the limits established in the Budget Control Act.
CBO's Major Budget Reports
- The Budget and Economic Outlook, published in January, includes the agency's most comprehensive set of budget and economic projections.
- In August, CBO provided updated budget and economic projections. These are the agency's most recent projections.
- CBO also analyzed the budgetary and the economic impact of the President's budget proposals for 2013.
- In June, CBO released its Long-Term Budget Outlook, which examines the budget picture through 2037.
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Peruse all of CBO's publications and cost estimates. Begin with the most recent, focus on a specific topic, jump straight to frequently requested items, or get automatic updates from one of our many RSS feeds. meet the agency
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Visit the Director’s Blog for a concise description of CBO's recent work.- From our latest blogpost:
CBO estimates in its latest Monthly Budget Review that the Treasury Department will report a deficit of $1.17 trillion...
what's most recent
H.R. 6313, a bill to promote peaceful and collaborative resolution of maritime territorial disputes in the South China Sea and its environs and other maritime areas adjacent to the East Asian mainland
cost estimateSeptember 14, 2012H.R. 6016, Government Employee Accountability Act
cost estimateSeptember 14, 2012H.R. 6361, Vulnerable Veterans Housing Reform Act of 2012
cost estimateSeptember 14, 2012H.R. 1860, Digital Goods and Services Tax Fairness Act of 2012
cost estimateSeptember 14, 2012H.R. 4402, Critical Minerals Policy Act of 2012
cost estimateSeptember 13, 2012H.R. 6060, Endangered Fish Recovery Programs Extension Act of 2012
cost estimateSeptember 12, 2012H.R. 5961, Farmer’s Privacy Act of 2012
cost estimateSeptember 12, 2012
what's most read
An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022
reportAugust 22, 2012Letter to the Honorable John Boehner providing an estimate for H.R. 6079, the Repeal of Obamacare Act
cost estimateJuly 24, 2012Estimates for the Insurance Coverage Provisions of the Affordable Care Act Updated for the Recent Supreme Court Decision
reportJuly 24, 2012The 2012 Long-Term Budget Outlook
reportJune 5, 2012The Long-Term Budgetary Impact of Paths for Federal Revenues and Spending Specified by Chairman Ryan
reportMarch 20, 2012An Analysis of the President's 2013 Budget
reportMarch 16, 2012The Budget and Economic Outlook: Fiscal Years 2012 to 2022
reportJanuary 31, 2012