Word: cbo
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...growth has not stopped. If the CBO's estimate of 2.3% a year is right, we'd be home free if the next President could persuade us simply to hold consumption at its present levels for his first term, using the dividends of economic growth to pay off our debts and invest for an even more prosperous future...
Before her job at the Brookings Institute, Rivlin spent eight years as the first director of the Congressional Budget Office (CBO), a nonpartisan office that provides Congress with budget information and analysis...
...built an institute from scratch and built it into a crucial part of the politicizing process in Washington," says Verdier, who was the head of tax analysis at the CBO under Rivlin...
...world's richest nations, but more and more American children are living in poverty. A recent study by the Congressional Budget Office estimated that 13.8 million children were in poverty in 1983, an increase of more than 4 million since 1973. The CBO findings were reinforced last week by a report from the nonprofit Children's Defense Fund. According to C.D.F. President Marian Edelman, the plight of black children has worsened dramatically compared with that of whites since 1980. Black children, said Edelman, are now twice as likely as whites to die before their first birthday, three times as likely...
...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has suffered a downturn every four years on average, and few economists believe that the business cycle has been repealed.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...