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Budget Process Issues Concerning the 1990 Reconciliation Act
This report responds to your request that we examine the reconciliation process as it affects deficit reduction. At the time of the Omnibus Budget Reconciliation Act of 1990 (OBRA 90) enactment, overall savings from the multiyear deficit reduction agreement were estimated to be about$500 billion. However, the deficit has not dropped to the levels expected at that time. For example, the Congressional Budget Offices (CBO)projections in December 1990 showed that the fiscal year 1993 deficit would be $170 billion, but the actual deficit was $255 billion.
Approved For Public Release