CBO Issues Interesting Budget & Spending Projections

On the last day of January 2012, the Congressional Budget Office (CBO) issued its budget and spending projections for the federal government covering the next ten years. The 167-page report is full of economic and spending charts and statistics.

This article provides lots of quotes and details. Here is a summary of the CBO’s most important conclusions:

  1. The Economy & Unemployment Will Stay Weak or will Deteriorate
  2. The Deficit May Decrease … Or Not
  3. Entitlements Must Change
  4. Subsidized “Tax Expenditures” are Huge

Congress really ought to pay attention to its own report. The data in this report should pay a prominent role in the debate on what to do with these important priorities.

 

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