Downloaded 14 times
Uploaded byCongressional Budget Office
Presentation to the Budget Conference Committee
The Congressional Budget Office (CBO) presented data on federal budget deficits, surpluses, and unemployment rates as of November 2013. It highlighted projected increases in federal debt held by the public and provided a breakdown of noninterest spending categories. The presentation reflects revisions to economic data and outlines budget figures based on the CBO's May 2013 baseline projection.
More Related Content
Similar to Presentation to the Budget Conference Committee
Presentation to the Budget Conference Committee
- 1. Congressional Budget Office Presentationto the Budget Conference Committee Douglas W. Elmendorf Director November 13, 2013 Note: Data from 1929 onward reflect recent revisions by the Bureau of Economic Analysis to estimates of gross domestic product (GDP) in past years and CBO’s extrapolation of those revisions to projected future GDP. Except where noted, budget figures for 2013 reflect CBO’s May 2013 baseline projection.
- 2.
- 3. Share of PopulationAge 16 and Older That Is Employed Percent CONGRESSIONAL BUDGET OFFICE
- 4. Short-Term and Long-TermUnemployment Rates Percent The long-term unemployment rate refers to workers who have been unemployed for at least 27 weeks; the short-term unemployment rate refers to all other unemployed workers. CONGRESSIONAL BUDGET OFFICE
- 5. Federal Budget Deficitsor Surpluses Percentage of GDP 4 Surpluses Actual 4 Baseline Projection 0 0 -4 -4 Deficits -8 -8 -12 -12 1973 1978 1983 1988 1993 1998 2003 2008 2013 The deficit figure for 2013 comes from the Final Monthly Treasury Statement released on October 30, 2013. CONGRESSIONAL BUDGET OFFICE 2018 2023
- 6. Federal Debt Heldby the Public Under CBO’s Extended Baseline Percentage of GDP 120 Actual World War II Projected 80 Great Depression 40 0 1790 World War I Civil War 1805 1820 1835 1850 1865 1880 1895 1910 1925 1940 1955 1970 CONGRESSIONAL BUDGET OFFICE 1985 2000 2015 2030
- 7. Federal Spending andRevenues Under CBO’s Baseline, Compared with Past Averages Percentage of GDP CONGRESSIONAL BUDGET OFFICE
- 8. Categories of NoninterestSpending Apart from Social Security, Medicare, and Defense Percentage of GDP Means-tested health care programs include Medicaid, the Children's Health Insurance Program, and subsidies offered through health insurance exchanges and related spending. CONGRESSIONAL BUDGET OFFICE