Presentation to Women in Government Relations, Theresa Gullo, Deputy Assistant Director for Budget Analysis, June 6, 2013

1. Congressional Budget Office
The Federal Budget:
Outlook and Challenges
Presentation to Women in Government Relations
Theresa Gullo
Deputy Assistant Director for Budget Analysis
June 6, 2013
This presentation draws from previous CBO work on the subject.

2. C O N G R E S S I O N A L B U D G E T O F F I C E
Percentage of GDP
CBO Projects that Over the Next Ten Years Federal Spending and Revenues
Under Current Law Will be a Larger Share of the Economy than They Have
Been Historically

3. C O N G R E S S I O N A L B U D G E T O F F I C E
Spending on Social Security, Major Health Care Programs, and Interest
Will Grow Relative to GDP While Discretionary Spending Will Shrink
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
0
1
2
3
4
5
6
7
Other Mandatory Spending
Major Health Care Programs
Defense
Discretionary Spending
Social Security
Nondefense
Discretionary Spending
Net Interest
Percentage of GDP

4. C O N G R E S S I O N A L B U D G E T O F F I C E
By 2023, Federal Spending Will Shift Further Toward
Social Security and Medicare

5. C O N G R E S S I O N A L B U D G E T O F F I C E
By 2023 the President’s Budget Proposals Would Result in More Revenues
and Less Spending than Under Current Law

6. C O N G R E S S I O N A L B U D G E T O F F I C E
Current House and Senate Budget Plans Would Make Significant Changes
to Revenues and Certain Categories of Spending Relative to Current Law

7. C O N G R E S S I O N A L B U D G E T O F F I C E
The Debt Path Under Different Budget Plans Can Vary Considerably

8. C O N G R E S S I O N A L B U D G E T O F F I C E
Proposals to Change the Budget Can be Evaluated Using Many Different
Criteria
■ How big would the government be?
■ How much and how quickly would federal debt be reduced?
■ How would the changes affect short-term and long-term economic
performance?
■ Who would bear the burden of changes in spending and revenues?
■ How would the country’s and the government’s resources be allocated?