Word: cbo
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...nonpartisan Congressional Budget Office predicts that unless Congress acts to narrow it, the budget gap will widen steadily, reaching $263 billion in 1989. By that time, the national debt would hit $2.5 trillion. The annual interest bill on that debt, says the CBO, could amount to $214 billion and absorb 16% of all Government spending, up from...
...that outlook sounds, it may be overly optimistic. The CBO made the questionable assumption that no recession would occur for the rest of the decade. History shows, however, that over the past century the economy has suffered a downturn every four years on average, and few economists believe that the business cycle has been repealed. A survey conducted last month by the National Association of Business Economists revealed that 95% of the members polled expect a recession to strike by 1986 at the latest. When asked what would be the causes of the downturn, 79% of the NABE economists blamed...
...Street was trading and taking profits with pent-up gusto: 754.5 million shares were sold last week, a record. Both the Administration and the Congressional Budget Office issued somewhat cheerier economic estimates for 1984 and beyond. But the federal budget shortfalls continue to mar the Reagan record: the nonpartisan CBO predicted that without further budget cuts or tax increases, the deficits will continue to grow, almost doubling the cumulative federal debt (now $1.3 trillion) over the next five years...
...said that the Reagan Administration was "of the rich, by the rich and for the rich." The Democrats received some ammunition this month from the nonpartisan Congressional Budget Office in a report that compared the size of tax cuts gained by different income groups. From 1983 through 1985, the CBO estimated, the 1.4 million households with incomes of $80,000 or more will receive income tax reductions totaling $35.4 billion, while the more than 40 million households that earn $20,000 or less will get cuts worth only $23.4 billion...
...figures have spawned protests from supporters of the Reagan tax cuts, including such leading supply-side theorists as Paul Craig Roberts, an economics professor at Georgetown University, and George Gilder, author of Wealth and Poverty and program director of the Manhattan Institute for Policy Research. They argue that the CBO figures are merely projections based on standard economic models and do not take into account the impact that tax cuts will have on the investment strategies of the wealthy. With tax rates reduced, the supply-siders say, the rich will move away from tax shelters and channel more of their...