The Budget and Economic Outlook: Fiscal Years 2004-2013
CONGRESSIONAL BUDGET OFFICE (U S CONGRESS) WASHINGTON DC
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Each January, the Congressional Budget Office CBO issues its outlook for the budget and the economy to help the Congress prepare for the upcoming legislative year. The baseline budget projections that CBO provides are based on the assumption that current laws and policies remain unchanged as well as on various estimates and assumptions about how the economy will behave and government programs will operate. Such projections are always uncertain, but this year, the uncertainty seems to be magnified. As a result, estimates of budgetary outcomes should be interpreted cautiously.
- Economics and Cost Analysis