Word: cbo
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Dates: during 2000-2009
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...point of view may make him an outlier. But there is no denying the fact that there has been almost no time spent in the Congressional conversation about what could happen to the budget if either the revenue or expense assumptions at the core of the Administration or CBO analyses are wrong by a substantial margin. The projections of GDP growth only have to be a percent or two too low for deficits to go up by hundreds of billions if not trillions of dollars over the next decade. Not a single page in the Administration or CBO documents describes...
...jarring news Friday, when the Congressional Budget Office (CBO) released its preliminary analysis of Obama's plans for the nation. In one of the first non-partisan, independent reviews of his administration's economic vision, the Obama White House pretty much got a failing grade - not because the President's advisers were bad at math, but because the CBO found that the economy is expected to recover so slowly as to make the Obama policy proposals unsustainable. The new "Era of Responsibility," it turned out, runs into big trouble with just a slight long-term decline in economic projections...
...budget was drafted, and than several other economic forecasts anticipate. Under the Administration's plans, that means an explosion in government debt after the current recession ends, with sustained deficits even larger than the ones caused in the 1980s by the policies of Ronald Reagan. The national debt, the CBO calculated, would go from 41% of the size of the nation's economic output in 2008 to 82% of the economic output in 2019. In other words, if the CBO estimates play out without a change in policy, Obama is on track to accomplish exactly what he promised to change...
...helping matters is a report from the Congressional Budget Office (CBO) that came out Tuesday, which shows that only 38% of the $350 billion in appropriated funds - which includes $274 billion for infrastructure investments - would make their way into the economy within two years of enactment. While some Democrats defended the study, saying it did not look at large parts of the bill, it was still a topic of some contention at the caucus' weekly lunch meeting on Wednesday. "If [the CBO report] is right, it is a cause for concern," said Senator Ben Nelson, a Nebraska Democrat, after...
...Senate Budget Committee chairman Kent Conrad said Wednesday the Senate version should take the CBO report into account and focus more on job creation. "One thing I think we have to look at is a redirection of some of this money," he told reporters tersely after the caucus meeting, "to things that will have more of an immediate effect." The Senate Appropriations Committee postponed its markup of the Senate version until next week after negotiators said they wanted to revisit some provisions...