Wednesday, February 01, 2012

[IWS] CBO: THE BUDGET AND ECONOMIC OUTLOOK: FISCAL YEARS 2012 TO 2022 [31 January 2012]

IWS Documented News Service

_______________________________

Institute for Workplace Studies----------------- Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor---------------------- Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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Congressional Budget Office (CBO)

 

The Budget and Economic Outlook: Fiscal Years 2012 to 2022 [31 January 2012]

http://www.cbo.gov/doc.cfm?index=12699

or

http://www.cbo.gov/ftpdocs/126xx/doc12699/01-31-2012_Outlook.pdf

[full-text, 165 pages]

 

Summary

 

Each January, CBO prepares “baseline” budget projections spanning the next 10 years. Those projections are not a forecast of future events; rather, they are intended to provide a benchmark against which potential policy changes can be measured. Therefore, as specified in law, those projections generally incorporate the assumption that current laws are implemented.

 

But substantial changes to tax and spending policies are slated to take effect within the next year under current law. So CBO has also prepared projections under an “alternative fiscal scenario,” in which some current or recent policies are assumed to continue in effect, even though, by law, they are scheduled to change. The decisions made by lawmakers as they confront those policy choices will have a significant impact on budget outcomes in the coming years.

 

SUPPLEMENTAL MATERIAL

 

Alternative Minimum Tax (xls)

 

Automatic Stabilizers (xls)

 

Budget Projections (xls)

 

Data Underlying Figures

 

Economic Baseline (xls)

 

Expiring Tax Provisions (xls)

 

Historical Budget Data (xls)

 

Key Assumptions in Projecting Potential GDP (xls)

Tax Receipts (xls)

 

Charts

 

Press Briefing Slides




 

 

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

 






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