Congressional Budget Office
Summary
The Congressional Budget Office (CBO) is a federal agency within the legislative branch of the United States government. It is a government agency that provides economic data to Congress. The CBO was created as an independent nonpartisan agency by the Congressional Budget and Impoundment Control Act of 1974.With respect to estimating spending for Congress, the Congressional Budget Office serves a purpose parallel to that of the Joint Committee on Taxation for estimating revenue for Congress, the Department of the Treasury for estimating revenues for the Executive and estimates required for the Congressional budget process. This includes projections on the effect on national debt.Section 202(e) of the Act requires submission by CBO to the House and Senate Committees on the Budget periodic reports about fiscal policy and to provide baseline projections of the federal budget.
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One document, many interpretations
What a difference reporters and editors can make in choosing from the same report what is news and where and how to play it. This competitive diversity was on full display this week, after the Congressional Budget Office on Tuesday released its latest assessment of where the federal budget and the economy are headed.
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How Soledad O’Brien prepared for that contentious John Sununu interview
It has been one month since CNN’s Soledad O’Brien spent just under four minutes interviewing Mitt Romney adviser and former New Hampshire Gov. John Sununu.
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What journalists need to know about this week’s Supreme Court Health Care Ruling
Just about every citizen and business will be affected by the Supreme Court’s decision on the Affordable Care Act, which could be announced today or a little later this week. The decision, which may have been reached… Read more.
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Responsibility is missing as ‘fiscal cliff’ approaches
Falling off a cliff is never a good idea. Then again, neither is digging yourself deeper into a hole.
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Obamacare: The reckoning
Obamacare dominated the 2010 midterms, driving its Democratic authors to a historic electoral shellacking. But since then, the issue has slipped quietly underground.
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James Kwak: Fiscal Affairs: The Fetishization of Balance
I generally don't bother reading Thomas Friedman. A good friend gave me a copy of The World Is Flat, and I started reading it. Somewhere in the first one hundred pages Friedman has an extended discussion of workflow software (as a key enabler of globalization) and I realized that he knew absolutely nothing about workflow software, so I stopped reading it and gave it away.
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J.H. Snider: On Behalf of the 1%, The Best Bargain Since Manhattan
Congress passes legislation including what may prove to be the largest corporate welfare program in humankind's history -- one that involves an "invisible" resource, the public airwaves.
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Robert Reich: Corporations Don't Need a Tax Cut, So Why Is Obama Proposing One?
The Obama administration is proposing to lower corporate taxes from the current 35 percent to 28 percent for most companies and to 25 percent for manufacturers.
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Bad Math From the WSJ Opinion Pages
Brad DeLong catches The Wall Street Journal editorial page in some hilariously bad math. Here's Stephen Moore: Federal workers on balance still receive much better benefits and pay packages than comparable private sector workers, the Congressional Budget Office reports. The report says that on average the compensation paid to federal workers is nearly 50% higher than in the.
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Will Mitt Romney Kill Bird Bird?
WASHINGTON -- Mitt Romney pledged to cut spending for public television while campaigning in Iowa on Wednesday, saying the arts will need to get more private donations to stay afloat.
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