This presentation was made by Bob Sunshine, US Congressional Budget Office, at the 8th meeting of Parliamentary Budget Officials and Independent Fiscal Institutions held in Paris on 11-12 April 2016.
Fiscal councils and communications: the UK experience - Chris Giles, Financia...OECD Governance
The document discusses the establishment and impact of the UK's Office for Budget Responsibility (OBR), an independent fiscal watchdog. It notes that budget information was previously opaque, limited, and over-optimistic, but the OBR has removed known biases, increased trust in forecasts, and aided public understanding through examining forecast errors without shying from bad news. The OBR eased austerity measures and indirectly brought down a minister through its work. It has expanded the volume of fiscal outlook material but also led to more explanatory articles in the media on budgets and few damaging institutional stories.
Forecast and Analysis of Corporate Income Tax - François Ecalle, FranceOECD Governance
This presentation was made by François Ecalle, Haut Conseil des Finances Publiques, France, at the 8th meeting of Parliamentary Budget Officials and Independent Fiscal Institutions held in Paris on 11-12 April 2016.
On April 12, 2016, CBO Deputy Director Robert Sunshine presented at the 8th Annual Meeting of OECD Parliamentary Budget Officials and Independent Fiscal Institutions.
The OECD (Organisation for Economic Co-operation and Development) defines fiscal transparency as the full disclosure of all relevant fiscal information in a timely and systematic manner. Each year, CBO produces numerous products that provide such information to the Congress, and through its website, to other interested parties and the general public. This presentation describes several of those products.
For its baseline budget projections, CBO estimates the revenue effects of enacted legislation that changed the amount of funding for tax enforcement. Similarly, CBO’s annual analysis of the President’s budget includes its estimates of the revenue effects of the Administration’s proposals to change such funding. (But CBO does not estimate the changes in revenue from proposals to amend the tax code; those estimates are the responsibility of the staff of the Joint Committee on Taxation.)
However, for legislation being considered by the Congress, CBO does not include projections of additional receipts from proposed increases in funding for tax enforcement in its estimates of the budgetary effects that are used for budget enforcement purposes. That approach follows the budget scorekeeping guidelines specified in the conference report for the Balanced Budget Act of 1997.
These slides describe the circumstances under which CBO estimates the revenue effects of changes in funding for tax enforcement and the factors that affect those estimates. They were the basis for a presentation by Janet Holtzblatt, a unit chief in CBO's Tax Analysis Division, at the sixth annual Internal Revenue Service-Tax Policy Center Joint Research Conference on Tax Administration.
On April 26, 2016, CBO Director Keith Hall discussed CBO’s role in the Congressional budget process and its recent economic and budget projections with members of American University’s Department of Economics.
CBO anticipates that the economy will expand solidly this year and next. Increases in demand for goods and services are expected to reduce the quantity of underused labor and capital, or “slack,” in the economy—reducing the unemployment rate and pushing up compensation. That reduction in slack will also push up inflation and interest rates. Over the following years, CBO projects, output will grow at a more modest pace, constrained by relatively slow growth in the nation’s supply of labor. Nevertheless, in those later years, output is anticipated to grow more quickly than it has during the past decade.
In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
The document discusses financing issues for the Children's Health Insurance Program (CHIP). It notes that while budget authority provided for CHIP exceeds allotments to states in 2014-2015, rescinding the excess would not reduce deficits but could increase appropriations for other programs. It also explains that CBO's baseline assumes $5.7 billion in annual CHIP budget authority after 2015 based on previous funding levels, and that increased federal matching rates do not impact projections since all available funding is assumed spent.
Presentation by Maureen Costantino, Visual Information and Publications Specialist in CBO's Management, Business, and Information Services Division, at the Fourth Annual Global Network of Parliamentary Budget Officers Assembly.
This presentation provides an overview of the visual communications initiatives at CBO. It illustrates the evolution of graphics products at the agency, and some of the best practices that it has adopted for those products.
Presentation by Megan Carroll and David Newman, analysts in CBO’s Budget Analysis Division, at the spring symposium of the American Association for Budget and Program Analysis.
Since 1975, CBO has produced nonpartisan analyses of budgetary and economic issues to support the Congressional budget process. Each year, the agency’s budget analysts produce hundreds of cost estimates for proposed legislation. This presentation describes some of the principles that underlie those estimates and how the estimates relate to Congressional budget enforcement procedures.
Fiscal councils and communications: the UK experience - Chris Giles, Financia...OECD Governance
The document discusses the establishment and impact of the UK's Office for Budget Responsibility (OBR), an independent fiscal watchdog. It notes that budget information was previously opaque, limited, and over-optimistic, but the OBR has removed known biases, increased trust in forecasts, and aided public understanding through examining forecast errors without shying from bad news. The OBR eased austerity measures and indirectly brought down a minister through its work. It has expanded the volume of fiscal outlook material but also led to more explanatory articles in the media on budgets and few damaging institutional stories.
Forecast and Analysis of Corporate Income Tax - François Ecalle, FranceOECD Governance
This presentation was made by François Ecalle, Haut Conseil des Finances Publiques, France, at the 8th meeting of Parliamentary Budget Officials and Independent Fiscal Institutions held in Paris on 11-12 April 2016.
On April 12, 2016, CBO Deputy Director Robert Sunshine presented at the 8th Annual Meeting of OECD Parliamentary Budget Officials and Independent Fiscal Institutions.
The OECD (Organisation for Economic Co-operation and Development) defines fiscal transparency as the full disclosure of all relevant fiscal information in a timely and systematic manner. Each year, CBO produces numerous products that provide such information to the Congress, and through its website, to other interested parties and the general public. This presentation describes several of those products.
For its baseline budget projections, CBO estimates the revenue effects of enacted legislation that changed the amount of funding for tax enforcement. Similarly, CBO’s annual analysis of the President’s budget includes its estimates of the revenue effects of the Administration’s proposals to change such funding. (But CBO does not estimate the changes in revenue from proposals to amend the tax code; those estimates are the responsibility of the staff of the Joint Committee on Taxation.)
However, for legislation being considered by the Congress, CBO does not include projections of additional receipts from proposed increases in funding for tax enforcement in its estimates of the budgetary effects that are used for budget enforcement purposes. That approach follows the budget scorekeeping guidelines specified in the conference report for the Balanced Budget Act of 1997.
These slides describe the circumstances under which CBO estimates the revenue effects of changes in funding for tax enforcement and the factors that affect those estimates. They were the basis for a presentation by Janet Holtzblatt, a unit chief in CBO's Tax Analysis Division, at the sixth annual Internal Revenue Service-Tax Policy Center Joint Research Conference on Tax Administration.
On April 26, 2016, CBO Director Keith Hall discussed CBO’s role in the Congressional budget process and its recent economic and budget projections with members of American University’s Department of Economics.
CBO anticipates that the economy will expand solidly this year and next. Increases in demand for goods and services are expected to reduce the quantity of underused labor and capital, or “slack,” in the economy—reducing the unemployment rate and pushing up compensation. That reduction in slack will also push up inflation and interest rates. Over the following years, CBO projects, output will grow at a more modest pace, constrained by relatively slow growth in the nation’s supply of labor. Nevertheless, in those later years, output is anticipated to grow more quickly than it has during the past decade.
In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
The document discusses financing issues for the Children's Health Insurance Program (CHIP). It notes that while budget authority provided for CHIP exceeds allotments to states in 2014-2015, rescinding the excess would not reduce deficits but could increase appropriations for other programs. It also explains that CBO's baseline assumes $5.7 billion in annual CHIP budget authority after 2015 based on previous funding levels, and that increased federal matching rates do not impact projections since all available funding is assumed spent.
Presentation by Maureen Costantino, Visual Information and Publications Specialist in CBO's Management, Business, and Information Services Division, at the Fourth Annual Global Network of Parliamentary Budget Officers Assembly.
This presentation provides an overview of the visual communications initiatives at CBO. It illustrates the evolution of graphics products at the agency, and some of the best practices that it has adopted for those products.
Presentation by Megan Carroll and David Newman, analysts in CBO’s Budget Analysis Division, at the spring symposium of the American Association for Budget and Program Analysis.
Since 1975, CBO has produced nonpartisan analyses of budgetary and economic issues to support the Congressional budget process. Each year, the agency’s budget analysts produce hundreds of cost estimates for proposed legislation. This presentation describes some of the principles that underlie those estimates and how the estimates relate to Congressional budget enforcement procedures.
Presentation by Deborah Kilroe, Associate Director for Communications at CBO, at the Fourth Annual Global Network of Parliamentary Budget Officers Assembly.
CBO continually strives to make its work more accessible on its website and social media platforms. This presentation provides an overview of the significant innovations that CBO has implemented in recent years to enhance the online presentation and accessibility of the agency’s work.
Presentation by Wendy Edelberg, an Associate Director for Economic Analysis at CBO, at the Brookings Institution’s Hutchins Center on Fiscal and Monetary Policy.
Revenues and spending as a share of economic output have varied over business cycles as a result of both changes in legislation and automatic stabilizers. Automatic stabilizers are the automatic increases in revenues and decreases in outlays in the federal budget that occur when the economy strengthens, and the opposite changes that occur when the economy weakens.
Presentation by Maureen Costantino, Visual Information and Publications Specialist in CBO's Management, Business, and Information Services Division, at the VisCom 2016 Conference.
This presentation provides an overview of the visual communications initiative at CBO. Highlighting the development, evolution, best practices, and examples of graphics products, its purpose is to educate those interested in developing such a program for their own workplace.
Corporate Income Tax Analysis - Mostafa Askari, CanadaOECD Governance
This presentation was made by Mostafa Askari, Parliamentary Budget Office, Canada, at the 8th meeting of Parliamentary Budget Officials and Independent Fiscal Institutions held in Paris on 11-12 April 2016.
Presentation by Megan Carroll, an analyst for CBO’s Budget Analysis Division, at the Budget Formulation and Execution Line of Business’s Fall Forum.
Since 1975, CBO has produced nonpartisan analyses of budgetary and economic issues to support the Congressional budget process. Each year, the agency’s economists and budget analysts produce dozens of reports and hundreds of cost estimates for proposed legislation. This presentation makes key points related to CBO’ cost estimates for proposed legislation and how they relate to budget enforcement procedures.
Presentation by Keith Hall, CBO Director, at the Peter G. Peterson Foundation’s 2016 Fiscal Summit.
In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to CBO’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
To analyze the state of the budget in the long term, CBO has extrapolated its 10-year baseline projections an additional two decades. If current laws governing taxes and spending remain in place, the outlook for the budget would steadily worsen over the long term, with revenues falling well short of spending. CBO is in the process of completing a detailed update of its long-term projections; but in January the agency did a simplified update. On that basis, budget deficits are projected to rise steadily and federal debt held by the public is projected to exceed 130 percent of GDP by 2040.
To put the federal budget on a sustainable path for the long term, lawmakers would have to make major changes to tax policies, spending policies, or both – by reducing spending for large benefit programs below the projected amounts, letting revenues rise more than they would under current law, or adopting some combination of those approaches. The size of such changes would depend on the amount of federal debt that lawmakers considered appropriate.
Presentation by Matthew Goldberg, Deputy Assistant Director for CBO’s National Security Division, to the Manpower Roundtable.
If the Congress rejects certain cost-saving proposals of the Administration that it has not accepted in the past, and if costs for weapon systems continue to rise as they have in the past, funding required to implement the Administration’s plans for the Department of Defense would exceed the funding caps set by the Budget Control Act of 2011 by $162 billion (in 2016 dollars) over the 2017–2020 period.
Presentation on Capitol Hill in a Panel Discussion with Local Leaders, by Sarah Puro, Principal Analyst, Budget Analysis Division, Congressional Budget Office
Presentation by Keith Hall, CBO Director, at the Forecasters Club of New York.
In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
To analyze the state of the budget in the long term, CBO has extrapolated its 10-year baseline projections an additional two decades. If current laws governing taxes and spending remain in place, the outlook for the budget would steadily worsen over the long term, with revenues falling well short of spending. CBO is in the process of completing a detailed update of its long-term projections; but in January the agency did a simplified update. On that basis, budget deficits are projected to rise steadily and federal debt held by the public is projected to exceed 130 percent of GDP by 2040.
To put the federal budget on a sustainable path for the long term, lawmakers would have to make major changes to tax policies, spending policies, or both – by reducing spending for large benefit programs below the projected amounts, letting revenues rise more than they would under current law, or adopting some combination of those approaches. The size of such changes would depend on the amount of federal debt that lawmakers considered appropriate.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). If current laws governing federal taxes and spending generally did not change, the projected gap between outlays and revenues would increase to 5.4 percent of GDP in 2030. Federal debt held by the public would rise over the coming decade, from 81 percent of GDP in 2020 to 98 percent of GDP in 2030.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
Presentation by Jim Langley, an analyst for CBO’s Budget Analysis Division, to the National Council of Farmer Cooperatives, National Farmers Union, and the American Farm Bureau Federation.
The 2014 Farm Bill will expire in 2018. This presentation reviews CBO’s August 2016 agriculture baseline, including spending outlook and program participation projections, in anticipation of the next farm bill debate. The focus is on issues which could affect spending on commodity, conservation, and crop insurance programs.
In 2010, more than 70 percent of families directly owned capital assets that had a combined worth of $50 trillion. In that year, taxpayers reported net long-term gains and net long-term losses that totaled $123 billion from the sale of those types of assets.
In this report, CBO and the staff of the Joint Committee on Taxation examine the distribution of capital assets and net capital gains and losses in 2010 by type of asset and by the income and age of the asset holder.
Presentation by Robert Shackleton, an analyst in CBO’s Macroeconomic Analysis Division, at the NABE Foundation's 13th Annual Economic Measurement Seminar.
Presentation by Keith Hall, CBO Director, to the National Association for Business Economics.
In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
CBO anticipates that the economy will expand solidly this year and next. Increases in demand for goods and services are expected to reduce the quantity of underused labor and capital, or “slack,” in the economy—thereby encouraging greater participation in the labor force by reducing the unemployment rate and pushing up compensation. That reduction in slack will also push up inflation and interest rates. Over the following years, CBO projects, output will grow at a more modest pace, constrained by relatively slow growth in the nation’s supply of labor. Nevertheless, in those later years, output is anticipated to grow more quickly than it has during the past decade.
This presentation provides an overview of the Congressional Budget Office’s most recent budget and economic projections, which were published on January 28. In those projections, the federal budget deficit is about $900 billion in 2019 and exceeds $1 trillion each year beginning in 2022. Because of persistently large deficits, federal debt held by the public is projected to grow steadily, reaching 93 percent of gross domestic product (GDP) in 2029.
Real GDP is projected to grow by 2.3 percent in 2019—down from 3.1 percent in 2018—as the effects of the 2017 tax act on the growth of business investment wane and federal purchases decline sharply in the fourth quarter of the year. Economic growth is projected to slow to an average of 1.7 percent through 2023 and to average 1.8 percent from 2024 to 2029.
Presentation by Christina Hawley Anthony, Chief of the Projections Unit in CBO’s Budget Analysis Division, Robert Arnold, Chief of the Projections Unit in CBO’s Macroeconomic Analysis Division, and Joshua Shakin, Chief of the Revenue Estimating Unit in CBO’s Tax Analysis Division, at a joint seminar with the Congressional Research Service.
Presentation by Keith Hall, CBO Director, to the American Academy of Actuaries.
In fiscal year 2016, the federal budget deficit increased, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
To analyze the state of the budget in the long term, CBO has extrapolated its 10-year baseline projections an additional two decades. If current laws governing taxes and spending remain in place, the outlook for the budget would steadily worsen over the long term, with revenues falling well short of spending. In those projections, federal debt held by the public rises to 141 percent of GDP in 2046.
To put the federal budget on a sustainable path for the long term, lawmakers would have to make major changes to tax policies, spending policies, or both – by reducing spending for large benefit programs below the projected amounts, letting revenues rise more than they would under current law, or adopting some combination of those approaches. The size of such changes would depend on the amount of federal debt that lawmakers considered appropriate.
Presentation by Matthew Goldberg, Deputy Assistant Director for CBO’s National Security Division, at the Vision Strategic Planning Forum.
The Department of Defense’s estimates of the costs of the 2016 Future Years Defense Program (FYDP) exceed limits set forth in the Budget Control Act of 2011 by a total of $107 billion (in 2016 dollars) from 2017 to 2020. CBO projects a steep increase in acquisition costs starting in 2021, suggesting that weapons development and procurement is being deferred until beyond the FYDP period.
Presentation by Julie Topoleski, Chief of the Long-Term Analysis Unit in CBO's Health, Retirement, and Long-Term Analysis Division, at the 2016 Annual Meeting of the Population Association of America.
CBO uses a variety of demographic data. Those data underlie CBO’s budget and economic projections, and some cost estimates for legislation. Demographic data played an important role in estimating savings from an increase in the full retirement age for Social Security, estimating the costs of federal subsidies for health insurance coverage, and estimating the impact of changes in immigration policy, for example.
The Congressional Budget Office produces an economic forecast to use as an input for federal budget projections and analysis of legislative proposals. CBO's forecast is based on a neoclassical growth model that projects potential and actual output. Potential output depends on estimates of the potential labor force, capital stock services, and total factor productivity. In CBO's view, productivity growth has been weaker than expected since the recession due to continued effects of the recession, data revisions, and fiscal policy changes.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). It would increase to 5.4 percent of GDP in 2030 if current law did not change. In CBO’s projections, federal debt held by the public reaches $17.9 trillion at the end of 2020. That amount equals 81 percent of GDP—more than twice its average over the past 50 years. By 2030, debt is projected to reach $31.4 trillion, or 98 percent of GDP, a larger percentage than at any time since just after World War II. It would continue to grow after 2030, reaching 180 percent of GDP by 2050.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Then over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). It would increase to 5.4 percent of GDP in 2030 if current law did not change. In CBO’s projections, federal debt held by the public reaches $17.9 trillion at the end of 2020. That amount equals 81 percent of GDP—more than twice its average over the past 50 years. By 2030, debt is projected to reach $31.4 trillion, or 98 percent of GDP, a larger percentage than at any time since just after World War II. It would continue to grow after 2030, reaching 180 percent of GDP by 2050.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Then over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
Presentation by Deborah Kilroe, Associate Director for Communications at CBO, at the Fourth Annual Global Network of Parliamentary Budget Officers Assembly.
CBO continually strives to make its work more accessible on its website and social media platforms. This presentation provides an overview of the significant innovations that CBO has implemented in recent years to enhance the online presentation and accessibility of the agency’s work.
Presentation by Wendy Edelberg, an Associate Director for Economic Analysis at CBO, at the Brookings Institution’s Hutchins Center on Fiscal and Monetary Policy.
Revenues and spending as a share of economic output have varied over business cycles as a result of both changes in legislation and automatic stabilizers. Automatic stabilizers are the automatic increases in revenues and decreases in outlays in the federal budget that occur when the economy strengthens, and the opposite changes that occur when the economy weakens.
Presentation by Maureen Costantino, Visual Information and Publications Specialist in CBO's Management, Business, and Information Services Division, at the VisCom 2016 Conference.
This presentation provides an overview of the visual communications initiative at CBO. Highlighting the development, evolution, best practices, and examples of graphics products, its purpose is to educate those interested in developing such a program for their own workplace.
Corporate Income Tax Analysis - Mostafa Askari, CanadaOECD Governance
This presentation was made by Mostafa Askari, Parliamentary Budget Office, Canada, at the 8th meeting of Parliamentary Budget Officials and Independent Fiscal Institutions held in Paris on 11-12 April 2016.
Presentation by Megan Carroll, an analyst for CBO’s Budget Analysis Division, at the Budget Formulation and Execution Line of Business’s Fall Forum.
Since 1975, CBO has produced nonpartisan analyses of budgetary and economic issues to support the Congressional budget process. Each year, the agency’s economists and budget analysts produce dozens of reports and hundreds of cost estimates for proposed legislation. This presentation makes key points related to CBO’ cost estimates for proposed legislation and how they relate to budget enforcement procedures.
Presentation by Keith Hall, CBO Director, at the Peter G. Peterson Foundation’s 2016 Fiscal Summit.
In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to CBO’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
To analyze the state of the budget in the long term, CBO has extrapolated its 10-year baseline projections an additional two decades. If current laws governing taxes and spending remain in place, the outlook for the budget would steadily worsen over the long term, with revenues falling well short of spending. CBO is in the process of completing a detailed update of its long-term projections; but in January the agency did a simplified update. On that basis, budget deficits are projected to rise steadily and federal debt held by the public is projected to exceed 130 percent of GDP by 2040.
To put the federal budget on a sustainable path for the long term, lawmakers would have to make major changes to tax policies, spending policies, or both – by reducing spending for large benefit programs below the projected amounts, letting revenues rise more than they would under current law, or adopting some combination of those approaches. The size of such changes would depend on the amount of federal debt that lawmakers considered appropriate.
Presentation by Matthew Goldberg, Deputy Assistant Director for CBO’s National Security Division, to the Manpower Roundtable.
If the Congress rejects certain cost-saving proposals of the Administration that it has not accepted in the past, and if costs for weapon systems continue to rise as they have in the past, funding required to implement the Administration’s plans for the Department of Defense would exceed the funding caps set by the Budget Control Act of 2011 by $162 billion (in 2016 dollars) over the 2017–2020 period.
Presentation on Capitol Hill in a Panel Discussion with Local Leaders, by Sarah Puro, Principal Analyst, Budget Analysis Division, Congressional Budget Office
Presentation by Keith Hall, CBO Director, at the Forecasters Club of New York.
In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
To analyze the state of the budget in the long term, CBO has extrapolated its 10-year baseline projections an additional two decades. If current laws governing taxes and spending remain in place, the outlook for the budget would steadily worsen over the long term, with revenues falling well short of spending. CBO is in the process of completing a detailed update of its long-term projections; but in January the agency did a simplified update. On that basis, budget deficits are projected to rise steadily and federal debt held by the public is projected to exceed 130 percent of GDP by 2040.
To put the federal budget on a sustainable path for the long term, lawmakers would have to make major changes to tax policies, spending policies, or both – by reducing spending for large benefit programs below the projected amounts, letting revenues rise more than they would under current law, or adopting some combination of those approaches. The size of such changes would depend on the amount of federal debt that lawmakers considered appropriate.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). If current laws governing federal taxes and spending generally did not change, the projected gap between outlays and revenues would increase to 5.4 percent of GDP in 2030. Federal debt held by the public would rise over the coming decade, from 81 percent of GDP in 2020 to 98 percent of GDP in 2030.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
Presentation by Jim Langley, an analyst for CBO’s Budget Analysis Division, to the National Council of Farmer Cooperatives, National Farmers Union, and the American Farm Bureau Federation.
The 2014 Farm Bill will expire in 2018. This presentation reviews CBO’s August 2016 agriculture baseline, including spending outlook and program participation projections, in anticipation of the next farm bill debate. The focus is on issues which could affect spending on commodity, conservation, and crop insurance programs.
In 2010, more than 70 percent of families directly owned capital assets that had a combined worth of $50 trillion. In that year, taxpayers reported net long-term gains and net long-term losses that totaled $123 billion from the sale of those types of assets.
In this report, CBO and the staff of the Joint Committee on Taxation examine the distribution of capital assets and net capital gains and losses in 2010 by type of asset and by the income and age of the asset holder.
Presentation by Robert Shackleton, an analyst in CBO’s Macroeconomic Analysis Division, at the NABE Foundation's 13th Annual Economic Measurement Seminar.
Presentation by Keith Hall, CBO Director, to the National Association for Business Economics.
In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
CBO anticipates that the economy will expand solidly this year and next. Increases in demand for goods and services are expected to reduce the quantity of underused labor and capital, or “slack,” in the economy—thereby encouraging greater participation in the labor force by reducing the unemployment rate and pushing up compensation. That reduction in slack will also push up inflation and interest rates. Over the following years, CBO projects, output will grow at a more modest pace, constrained by relatively slow growth in the nation’s supply of labor. Nevertheless, in those later years, output is anticipated to grow more quickly than it has during the past decade.
This presentation provides an overview of the Congressional Budget Office’s most recent budget and economic projections, which were published on January 28. In those projections, the federal budget deficit is about $900 billion in 2019 and exceeds $1 trillion each year beginning in 2022. Because of persistently large deficits, federal debt held by the public is projected to grow steadily, reaching 93 percent of gross domestic product (GDP) in 2029.
Real GDP is projected to grow by 2.3 percent in 2019—down from 3.1 percent in 2018—as the effects of the 2017 tax act on the growth of business investment wane and federal purchases decline sharply in the fourth quarter of the year. Economic growth is projected to slow to an average of 1.7 percent through 2023 and to average 1.8 percent from 2024 to 2029.
Presentation by Christina Hawley Anthony, Chief of the Projections Unit in CBO’s Budget Analysis Division, Robert Arnold, Chief of the Projections Unit in CBO’s Macroeconomic Analysis Division, and Joshua Shakin, Chief of the Revenue Estimating Unit in CBO’s Tax Analysis Division, at a joint seminar with the Congressional Research Service.
Presentation by Keith Hall, CBO Director, to the American Academy of Actuaries.
In fiscal year 2016, the federal budget deficit increased, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
To analyze the state of the budget in the long term, CBO has extrapolated its 10-year baseline projections an additional two decades. If current laws governing taxes and spending remain in place, the outlook for the budget would steadily worsen over the long term, with revenues falling well short of spending. In those projections, federal debt held by the public rises to 141 percent of GDP in 2046.
To put the federal budget on a sustainable path for the long term, lawmakers would have to make major changes to tax policies, spending policies, or both – by reducing spending for large benefit programs below the projected amounts, letting revenues rise more than they would under current law, or adopting some combination of those approaches. The size of such changes would depend on the amount of federal debt that lawmakers considered appropriate.
Presentation by Matthew Goldberg, Deputy Assistant Director for CBO’s National Security Division, at the Vision Strategic Planning Forum.
The Department of Defense’s estimates of the costs of the 2016 Future Years Defense Program (FYDP) exceed limits set forth in the Budget Control Act of 2011 by a total of $107 billion (in 2016 dollars) from 2017 to 2020. CBO projects a steep increase in acquisition costs starting in 2021, suggesting that weapons development and procurement is being deferred until beyond the FYDP period.
Presentation by Julie Topoleski, Chief of the Long-Term Analysis Unit in CBO's Health, Retirement, and Long-Term Analysis Division, at the 2016 Annual Meeting of the Population Association of America.
CBO uses a variety of demographic data. Those data underlie CBO’s budget and economic projections, and some cost estimates for legislation. Demographic data played an important role in estimating savings from an increase in the full retirement age for Social Security, estimating the costs of federal subsidies for health insurance coverage, and estimating the impact of changes in immigration policy, for example.
The Congressional Budget Office produces an economic forecast to use as an input for federal budget projections and analysis of legislative proposals. CBO's forecast is based on a neoclassical growth model that projects potential and actual output. Potential output depends on estimates of the potential labor force, capital stock services, and total factor productivity. In CBO's view, productivity growth has been weaker than expected since the recession due to continued effects of the recession, data revisions, and fiscal policy changes.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). It would increase to 5.4 percent of GDP in 2030 if current law did not change. In CBO’s projections, federal debt held by the public reaches $17.9 trillion at the end of 2020. That amount equals 81 percent of GDP—more than twice its average over the past 50 years. By 2030, debt is projected to reach $31.4 trillion, or 98 percent of GDP, a larger percentage than at any time since just after World War II. It would continue to grow after 2030, reaching 180 percent of GDP by 2050.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Then over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). It would increase to 5.4 percent of GDP in 2030 if current law did not change. In CBO’s projections, federal debt held by the public reaches $17.9 trillion at the end of 2020. That amount equals 81 percent of GDP—more than twice its average over the past 50 years. By 2030, debt is projected to reach $31.4 trillion, or 98 percent of GDP, a larger percentage than at any time since just after World War II. It would continue to grow after 2030, reaching 180 percent of GDP by 2050.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Then over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). It would increase to 5.4 percent of GDP in 2030 if current law did not change. In CBO’s projections, federal debt held by the public reaches $17.9 trillion at the end of 2020. That amount equals 81 percent of GDP—more than twice its average over the past 50 years. By 2030, debt is projected to reach $31.4 trillion, or 98 percent of GDP, a larger percentage than at any time since just after World War II. It would continue to grow after 2030, reaching 180 percent of GDP by 2050.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Then over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
Emeryville fiscal year 2016 17 mid-year budget reviewE'ville Eye
The document is a mid-year budget review memo from the Finance Director to the City Manager of Emeryville, California. It recommends approving proposed budget adjustments for fiscal year 2016-2017. Revenues are lower than projected and expenditures are higher, resulting in a $530,565 shortfall. To cover this, staff proposes transferring excess reserves from the Economic Uncertainty Reserve Fund. The memo provides an overview of General Fund revenues and expenditures through February 2017 compared to the prior year and budget.
The General Fund deficit in Illinois is projected to almost double from FY2015 to FY2016, increasing from an estimated $6.8 billion to $12.7 billion. This is due to a combination of declining revenues and increasing costs. Revenues are expected to decline by $3.6 billion from FY2015 to FY2016 due to the phase down of temporary income tax increases and the loss of one-time borrowing. Meanwhile, "hard costs" like pensions, debt service, and statutory transfers are projected to rise by $1.9 billion. If spending on core services is held flat, over half of spending in FY2016 would need to be deficit spending.
This is a very risky preposition. The forecast should be revisited annually rather than assuming no economic downturn through 2019.
Fiscal Pressures. Given the relatively small budget shortfalls projected by IBO for 2017-2019 and the sizable reserves contained in the Mayor’s financial plan—including general reserves of $1 billion annually and $2.6 billion in the Retiree Health Benefits Trust—the city’s fiscal outlook remains solid. But this outlook presumes no economic downturn through 2019. If that forecast holds the city will have gone an unprecedented 10 years without a recession.
OTP Bank_Flash report 20170707_hu_deficitOTP Bank Ltd.
Az első negyedévben rekord többletet mutatott a költségvetés ESA egyenlege. A második negyedévi pénzforgalmi hiányt az EU-s források megelőlegezése okozta, a költségvetés alapfolyamatai továbbra is kedvezőek.
The Ontario budget projects deficits of $5.7 billion for 2015-16, $4.3 billion for 2016-17, and balanced budgets in 2017-18 and 2018-19. It contains no new taxes but includes tax measures affecting individuals, trusts, and corporations, such as reducing research and development and innovation tax credits. The budget also outlines Ontario's plans to join a cap-and-trade program with California and Quebec to reduce greenhouse gas emissions starting in 2017.
The document provides an overview of the key aspects of the Indian Union Budget for 2017-18 that was presented on February 1, 2017. Some of the major points covered include:
- The budget size was ₹21.47 lakh crore with a focus on transforming governance, energizing various sections of society, and eliminating corruption.
- Key reforms included merging the Railway and Union budgets and removing the distinction between plan and non-plan expenditure.
- The fiscal deficit target was set at 3.2% of GDP for 2017-18, down from 3.5% in the previous budget estimates.
- Expenditure priorities included agriculture, rural development, infrastructure, education, healthcare
The document discusses Travis County's Fiscal Year 2017 budget guidelines. It provides an economic outlook and background on the county and state economies. It then presents a five-year financial forecast for Travis County's operating budget to help plan priorities and budgets for FY2017 and beyond. Growth is expected to continue but challenges around housing, transportation and state funding could impact the county budget.
The financial reports for Augusta, GA for the year ended December 31, 2016 show preliminary positive results. The General and Law Enforcement Funds combined had a surplus of over $3 million. The Fire Protection Fund had a surplus of over $1 million. However, sales tax collections were 5.7% below budget. Health insurance costs increased due to higher pharmacy benefits. The reports are preliminary and final audited results will be presented in late June or early July.
The financial reports for Augusta, GA for the year ended December 31, 2016 show preliminary positive results. The General and Law Enforcement Funds combined had a surplus of over $3 million. The Fire Protection Fund had a surplus of over $1 million. However, sales tax collections were 5.7% below budget. Health insurance costs increased due to higher pharmacy benefits. The reports are preliminary and final audited results will be presented in late June or early July.
The 2017 tax act (Public Law 115-97) changed the way that the foreign income of U.S. corporations was taxed. Before those changes, many types of foreign income were not taxed by the United States until the income was brought back, or repatriated, to the United States. As part of the transition to the new system, a onetime tax was imposed on the existing unrepatriated foreign earnings of U.S. corporations. Corporations must pay the tax regardless of whether they actually repatriate the earnings to the United States. This presentation explains how estimates of those tax payments affect CBO’s baseline projections of corporate income tax revenues.
This document provides a five-year financial forecast for the City of San Antonio for fiscal years 2017 through 2021. It summarizes projected revenues, expenditures, and financial reserves for the General Fund, as well as the Hotel Occupancy Tax funds, Development Services Fund, and Solid Waste Operating Fund. The General Fund forecast projects modest surpluses each year and maintains reserves at 15% of revenues. Revenue growth is expected to average 2.7% annually during the forecast period. Expenditures are based on maintaining current service levels with adjustments for inflation. The forecast aims to provide early financial assessment to guide budget development and identify issues for city council.
The Governor of Latvijas Banka held a press conference in December to discuss fiscal policy and the national budget. He emphasized that 2017 will be a crucial time to establish a reasonable fiscal policy and balance the budget. A budget for 2017 should ensure stability, be balanced, and undergo careful review of expenses through zero-based budgeting. While the 2016 budget has issues, attention must now turn to improving the budget drafting process for 2017. Stability is needed for the business environment, investment, and lending. A review of the tax system is supported but taxes should not be manipulated for at least one election cycle. Living with budget deficits leads to higher public debt and taxes over time in a vicious cycle. Structural reforms in education
May 26, 2016 City of Corona Budget Workshop PresentationCity of Corona
The document provides an overview of the City of Corona's proposed budget for fiscal year 2016-17. Key points include:
- The budget focuses on accountability, transparency, sustainability, communication, monitoring, preparation, and feedback.
- Personnel costs are budgeted to increase 4.23% and non-personnel costs 4.12% compared to the prior year forecast.
- The general fund budget is balanced with a small projected surplus of $12,000.
- The budget includes $50.8 million in new capital improvement project funding.
Final City of Corona - Budget Study SessionCity of Corona
The document provides an overview of the City of Corona's proposed budget for fiscal year 2016-17. Key points include:
- The budget focuses on accountability, transparency, sustainability, communication, monitoring, preparation, and feedback.
- Personnel costs are budgeted to increase 4.23% and non-personnel costs 4.12% compared to the prior year forecast.
- The general fund budget is balanced with a small projected surplus of $12,000.
- The budget includes $50.8 million in new capital improvement project funding.
The 2017 Quebec budget outlines that government finances are stable and a surplus is projected for the 2016-2017 fiscal year. It proposes tax cuts for individuals and businesses, as well as increased spending on services, transit and skills training. While maintaining a balanced budget over five years, revenues are expected to modestly outpace expenditures, with surpluses dedicated to the Generations Fund to reduce Quebec's debt levels. The budget aims to strengthen the economy and public finances in a prudent manner given ongoing uncertainties.
The document discusses public finance statistics in Nigeria, which refer to data on government revenue and expenditure at the federal, state, and local levels. It outlines the key sources and methods used to compile these statistics. The major sources are the annual reports of the Accountants-General of the Federation and states, as well as budget estimates. However, delays in preparing and publishing the annual reports means the National Bureau of Statistics often relies on budget estimates or unaudited accounts, which can lack uniformity and differ from actual revenues and expenditures.
Similar to CBO's Contribution to Fiscal Transparency - Bob Sunshine, United States (20)
The document discusses transparency and oversight of political party financing. It finds that financial contributions to political parties are not fully transparent and are still vulnerable to political and foreign influence. Additionally, financial reports from political parties are not always publicly available or submitted on time according to regulations.
Summary of the OECD expert meeting: Construction Risk Management in Infrastru...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Using AI led assurance to deliver projects on time and on budget - D. Amratia...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
ECI in Sweden - A. Kadefors, KTH Royal Institute of Technology, Stockholm (SE)OECD Governance
This document discusses different construction project delivery and payment models. It begins by outlining common delivery models like design-bid-build and design-build. It then explains different payment methods that can be used like fixed price, unit prices, and cost-reimbursable. The document also discusses pricing strategies and how they relate to risk transfer between parties. It provides details on collaborative models like early contractor involvement and discusses selecting the optimal contract based on a client's project risks, desired influence, and market conditions.
Building Client Capability to Deliver Megaprojects - J. Denicol, professor at...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Procurement strategy in major infrastructure: The AS-IS and STEPS - D. Makovš...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Procurement of major infrastructure projects 2017-22 - B. Hasselgren, Senior ...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
ECI Dutch Experience - A. Chao, Partner, Bird&Bird & J. de Koning, Head of Co...OECD Governance
This document discusses ECI Dutch experience with collaborative contracting. It mentions a McKinsey report from 2018 on collaborative contracting and recent developments in the field. Finally, it provides lessons learned from a project in Amsterdam called Bouwteam De Nieuwe Zijde Noord.
ECI in Sweden - A. Kadefors, KTH Royal Institute of Technology, StockholmOECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
EPEC's perception of market developments - E. Farquharson, Principal Adviser,...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Geographical scope of the lines in Design and Build - B.Dupuis, Executive Dir...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Executive Agency of the Dutch Ministry of Infrastructure and Water Management...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Presentation of OECD Government at a Glance 2023OECD Governance
Paris, 30 June, 2023
Presentation by Elsa Pilichowski, Director for Public Governance, OECD.
The 2023 edition of Government at a Glance provides a comprehensive overview of public governance and public administration practices in OECD Member and partner countries. It includes indicators on trust in public institutions and satisfaction with public services, as well as evidence on good governance practices in areas such as the policy cycle, budgeting, procurement, infrastructure planning and delivery, regulatory governance, digital government and open government data. Finally, it provides information on what resources public institutions use and how they are managed, including public finances, public employment, and human resources management. Government at a Glance allows for cross-country comparisons and helps identify trends, best practices, and areas for improvement in the public sector.
See: https://www.oecd.org/publication/government-at-a-glance/2023/
The Protection and Promotion of Civic Space: Strengthening Alignment with Int...OECD Governance
Infographics from the OECD report "The Protection and Promotion of Civic Space Strengthening Alignment with International Standards and Guidance".
See: https://www.oecd.org/gov/the-protection-and-promotion-of-civic-space-d234e975-en.htm
OECD Publication "Building Financial Resilience
to Climate Impacts. A Framework for Governments to manage the risks of Losses and Damages.
Governments are facing significant climate-related risks from the expected increase in frequency and intensity of cyclones, floods, fires, and other climate-related extreme events. The report Building Financial Resilience to Climate Impacts: A Framework for Governments to Manage the Risks of Losses and Damages provides a strategic framework to help governments, particularly those in emerging market and developing economies, strengthen their capacity to manage the financial implications of climate-related risks. Published in December 2022.
OECD presentation "Strengthening climate and environmental considerations in infrastructure and budget appraisal tools"
by Margaux Lelong and Ana Maria Ruiz during the 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris.
OECD presentation "Building Financial Resilience to Climate Impacts. A Framework to Manage the Risks of Losses and Damages" by Andrew Blazey, Stéphane Jacobzone and Titouan Chassagne. Presented during the 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris
OECD Presentation "Financial reporting, sustainability information and assurance" by Peter Welch during the 5th Session during the 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris
This document summarizes developments in sovereign green bond markets. It discusses approaches to incorporating environmental, social, and governance (ESG) factors into public debt management. Sovereign green bond issuance has grown significantly in both advanced and emerging economies since 2016. Green bonds make up the largest share of the labeled bond market. Major benefits of sovereign green bonds include their positive impact on creditworthiness and alignment with ESG policies. However, issuers also face challenges such as additional costs and complexity of the issuance process. Common leading practices emphasize transparency, collaboration, and commitment to reporting.
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...OECDregions
Preliminary findings from OECD field visits for the project: Enhancing EU Mining Regional Ecosystems to Support the Green Transition and Secure Mineral Raw Materials Supply.
Monitoring Health for the SDGs - Global Health Statistics 2024 - WHOChristina Parmionova
The 2024 World Health Statistics edition reviews more than 50 health-related indicators from the Sustainable Development Goals and WHO’s Thirteenth General Programme of Work. It also highlights the findings from the Global health estimates 2021, notably the impact of the COVID-19 pandemic on life expectancy and healthy life expectancy.
Donate to charity during this holiday seasonSERUDS INDIA
For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
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United Nations World Oceans Day 2024; June 8th " Awaken new dephts".Christina Parmionova
The program will expand our perspectives and appreciation for our blue planet, build new foundations for our relationship to the ocean, and ignite a wave of action toward necessary change.
A Guide to AI for Smarter Nonprofits - Dr. Cori Faklaris, UNC CharlotteCori Faklaris
Working with data is a challenge for many organizations. Nonprofits in particular may need to collect and analyze sensitive, incomplete, and/or biased historical data about people. In this talk, Dr. Cori Faklaris of UNC Charlotte provides an overview of current AI capabilities and weaknesses to consider when integrating current AI technologies into the data workflow. The talk is organized around three takeaways: (1) For better or sometimes worse, AI provides you with “infinite interns.” (2) Give people permission & guardrails to learn what works with these “interns” and what doesn’t. (3) Create a roadmap for adding in more AI to assist nonprofit work, along with strategies for bias mitigation.
A Guide to AI for Smarter Nonprofits - Dr. Cori Faklaris, UNC Charlotte
CBO's Contribution to Fiscal Transparency - Bob Sunshine, United States
1. Congressional Budget Office
CBO’s Contributions to Fiscal Transparency
8th Annual Meeting of OECD Parliamentary Budget Officials
April 12, 2016
Robert Sunshine
Deputy Director
2. 1CONGRESSIONAL BUDGET OFFICE
CBO provides analysis of budgetary and
economic issues that is objective and
impartial. The agency is strictly nonpartisan.
All of CBO’s official cost estimates and
analytic reports are posted on its website.
5. 4CONGRESSIONAL BUDGET OFFICE
Note: The amounts shown include the surplus or deficit in the Social Security trust funds and the net cash flow of the
Postal Service, which are off-budget. Numbers may not add up to totals because of rounding.
Monthly Budget Review for February 2016
The federal budget deficit was $352 billion for the first five months of fiscal year 2016, the Congressional
Budget Office estimates—$34 billion less than the shortfall recorded in the same span last year. Receipts
were 5 percent higher than they were at this time a year ago, and outlays were 2 percent higher. If not for
shifts in the timing of certain payments (which otherwise would have fallen on a weekend), the deficit for
the first five months of fiscal year 2016 would have been about the same as it was last year.
Budget Totals, October–February
(Billions of dollars)
Actual, FY 2015 Preliminary, FY 2016 Estimated Change
Receipts 1,186 1,247 62
Outlays 1,572 1,599 27
Deficit −387 −352 34
Sources: Congressional Budget Office; Department of the Treasury. Based on the Monthly Treasury
Statement for January 2016 and the Daily Treasury Statements for February 2016.
FY = fiscal year.
Total Receipts: Up by 5 Percent in the First Five Months of Fiscal Year 2016
Receipts through February totaled $1,247 billion, CBO estimates—$62 billion more than the amount
for the same period last year. The changes between last year and this year were as follows:
■ Individual income taxes and payroll (social insurance) taxes together rose by $57 billion
(or 6 percent).
o An increase of $43 billion (or 5 percent) in amounts withheld from workers’
paychecks accounted for most of that gain. Growth in wages and salaries probably
explains that increase.
o Nonwithheld receipts, largely reflecting payments for the 2015 tax year, rose by
$12 billion (or 9 percent). Almost half of the increase occurred in January, when
individuals made their last quarterly payment of estimated taxes for 2015.
o Income tax refunds decreased by $3 billion (or 3 percent).
■ Corporate income taxes declined by about $11 billion (or 11 percent). About two-thirds of
that decline occurred in December, when most corporations made their first quarterly
estimated payment of those taxes in the current fiscal year. That decline may not indicate,
however, that corporate profits have dropped. Comparing last year’s tax payments with this
year’s has been complicated by the enactment in December 2015 of the Consolidated
Appropriations Act, 2016 (Public Law 114-113), and by the enactment in December 2014 of
the Tax Increase Prevention Act of 2014 (Division A of P.L. 113-295). Each of those laws
retroactively extended, to the beginning of the calendar year in which it was enacted, various
provisions that reduced tax liabilities, and they may have affected the timing of tax
payments for each calendar year to different degrees. Most corporations must make their
March 7, 2016
Note: The amounts shown include the surplus or deficit in the Social Security trust funds and the net cash flow of the
Postal Service, which are off-budget. Numbers may not add up to totals because of rounding.
Monthly Budget Review for January 2016
The federal budget deficit was $165 billion for the first four months of fiscal year 2016, the Congressional
Budget Office estimates—$29 billion less than the shortfall recorded in the same span last year. Receipts
were 3 percent higher than they were at this time a year ago, and outlays were about the same. If not for
shifts in the timing of certain payments (which otherwise would have fallen on a weekend), the deficit for
the first four months of fiscal year 2016 would have been $10 billion larger than it was last year.
If lawmakers enact no further legislation affecting spending or revenues this year, the federal government
will end fiscal year 2016 with a deficit of $544 billion, or 2.9 percent of gross domestic product (GDP),
CBO estimates, up from $439 billion, or 2.5 percent of GDP, in 2015. An estimated $43 billion of this
year’s projected increase in the deficit will result from a shift in the timing of some payments that the
government would ordinarily have made in fiscal year 2017 but that will instead be made in fiscal year
2016, because October 1, 2016—the first day of fiscal year 2017—falls on a weekend. If not for that shift,
the projected deficit in 2016 would be $500 billion, or 2.7 percent of GDP. (For more details about CBO’s
most recent budget projections, see The Budget and Economic Outlook: 2016 to 2026.)
Budget Totals, October–January
(Billions of dollars)
Actual, FY 2015 Preliminary, FY 2016 Estimated Change
Receipts 1,046 1,079 33
Outlays 1,240 1,244 4
Deficit -194 -165 29
Sources: Congressional Budget Office; Department of the Treasury. Based on the Monthly Treasury
Statement for December 2015 and the Daily Treasury Statements for January 2016.
FY = fiscal year.
Total Receipts: Up by 3 Percent in the First Four Months of Fiscal Year 2016
Receipts through January totaled $1,079 billion, CBO estimates—$33 billion more than the amount
for the same period last year. The largest changes between last year and this year were in the
following categories:
■ Individual income taxes and payroll (social insurance) taxes together rose by $33 billion (or
4 percent).
o An increase of $23 billion (or 3 percent) in amounts withheld from workers’
paychecks accounted for the bulk of that gain. Growth in wages and salaries probably
explains that increase.
o Nonwithheld receipts, largely from the last quarterly payments of estimated taxes for
2015, which were due in January, rose by $9 billion (or 7 percent).
o Income tax refunds were $2 billion lower than they had been the previous year. Most
tax refunds will be paid from February through April.
■ Corporate income taxes declined by about $13 billion (or 12 percent). For most
corporations, the first quarterly payment of estimated taxes in the current fiscal year was
February 5, 2016
6. 5CONGRESSIONAL BUDGET OFFICE
CBO produces detailed economic forecasts,
usually twice a year, and compares them
with those produced by other government
agencies and private-sector economists.
9. 8CONGRESSIONAL BUDGET OFFICE
CBO prepares 10-year “baseline” budget
projections, generally assuming that
current laws governing taxes and spending
remain in place.
Those projections are widely reported and
widely used as a basis for discussions of
budget policy.
12. 11CONGRESSIONAL BUDGET OFFICE
CBO prepares an analysis of the President’s
proposed budget, using its own economic
projections and estimating models (rather
than the Administration’s).
19. 18CONGRESSIONAL BUDGET OFFICE
To more clearly illuminate long-term
demographic challenges, CBO prepares
75-year projections for the Social Security
program