Keyword search for ‘Budget’

CBO Releases New Budget Outlook

House Allocations Approved

On May 8, the House of Representatives approved their fiscal 2015 allocations within which appropriations subcommittees will work to fund their respective parts of the government. read more...

Commerce-Justice-Science Request

These graphs break down the requested budget authority for the Department of Commerce, Department of Justice, and science programs in the president’s fiscal 2015 budget. “Other” in the Justice Department graph is the U.S. Parole Commission ($13.3 million) “Other” in the science programs graph is National Science Foundation – Other ($18.8 million), and the Office … read more...

By The Numbers: A Look at Obama’s Fiscal 2015 Budget Request

House, Senate and President’s Budget Compared

Last month, we compared the House and Senate budget resolutions against baseline projections. Now that President Barack Obama has released his own budget, we’ve updated our deficit chart to include the effects of his proposals and added an interactive component. read more...

President’s Fiscal 2014 Budget: Graphics

President Barack Obama says his budget would cut the deficit to $744 billion next year, down from over a trillion in fiscal 2012. Driven by the costs of mandatory programs, outlays are expected to rise to $3.8 trillion in 2014 but fall as a share of GDP to 22.2 percent, the lowest level since 2008. And after dipping during the recession, revenue is expected to grow steadily but stay below 20 percent of GDP. read more...

President’s Fiscal 2014 Budget Request: Tables

President Barack Obama released his fiscal 2014 budget this morning. These tables summarize his proposals and the economic assumptions behind them. read more...

Budget Requests vs. Reality

Next week, President Barack Obama will submit his budget request to Congress for the 2014 fiscal year. The president’s request is historically not very good at predicting appropriations, with Congress typically spending more than the president asked for. read more...

Comparing House and Senate Budget Proposals

On Wednesday, Senate Democrats began marking up their first budget resolution since 2009. The Democratic plan, released by Senate Budget Committee Chair Patty Murray of Washington, draws clear distinctions with the Republican proposal put forward last week by the House Budget Committee, led by Rep. Paul Ryan of Wisconsin. read more...

Funding the Rest of Fiscal 2013

The continuing resolution currently funding the federal government is set to expire near the end of this month, and now both chambers have offered up plans for extending budget authority through the end of this fiscal year. read more...

Components of the Fiscal Cliff Deal

Faced with a New Year’s deadline, Congress and the White House reached an last-minute agreement to avert the impending tax hikes and spending cuts collectively known as the fiscal cliff. The Congressional Budget Office estimates that extending the tax cuts without limiting spending will add $4 trillion to the deficit over the next decade, as outlined above. read more...

Seeking Common Ground on Cuts

This list was constructed based on interviews with lawmakers and aides involved in budget negotiations. The existence of these proposals suggests that the two parties made huge progress on at least the spending side of talks and that any new deficit reduction talks can begin with much of the preliminary work already done. read more...

Consequences of Fiscal Restraint

Under current law, a wide range of temporary tax and spending provisions are set to expire at the end of 2012, cutting the yearly budget deficit almost in half and as a result imposing considerable fiscal policy restraint on the U.S. economy. A recent report by the Congressional Budget Office suggests that the short-term economic consequences of letting that happen might be severe. read more...

Sequester Looms Over Budget Debate

The graph shows new discretionary budget authority (appropriations) for the entire federal government and for defense programs, historically and as limited by the 2011 debt limit law. With the sequester set to take effect in January, lawmakers are talking about delaying these additional cuts or replacing them with savings they find more palatable. read more...

House GOP Offers Fiscal 2013 Budget

House Budget Committee Chairman Paul D. Ryan, R-Wis., released his fiscal 2013 budget today, seeking to establish a sharp contrast with President Obama and Democrats and to provide a unified GOP vision for federal tax and spending policy. read more...