An Analysis of the President's 2013 Budget
CONGRESSIONAL BUDGET OFFICE (U S CONGRESS) WASHINGTON DC
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This report by the Congressional Budget Office CBO presents an analysis of the proposals contained in the Presidents budget request for fiscal year 2013. The analysis is based on CBOs economic projections and estimating techniques rather than the Administrations and incorporates estimates by the staff of the Joint Committee on Taxation for the Presidents tax proposals. In conjunction with analyzing the Presidents budget, CBO has updated its baseline budget projections, which were previously issued in January 2012. Unlike its estimates of the Presidents budget, CBOs baseline projections largely reflect the assumption that current tax and spending laws will remain unchanged, so as to provide a benchmark against which potential legislation can be measured. Under that assumption, CBO estimates that the deficit would total 1.2 trillion in 2012 and that cumulative deficits over the 2013-2022 period would amount to 2.9 trillion. The Presidents budget request specifies spending and revenue policies for the 2013-2022 period and also includes initiatives that would have budgetary effects in fiscal year 2012.
- Economics and Cost Analysis
- Government and Political Science