Topic - Congressional Budget Office

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  Obama to unveil budget with higher taxes, more deficits

  President Obama's budget request to Congress on Monday will forecast a deficit of $1.33 trillion in the current fiscal year and calls for $1.5 trillion in tax increases over the next decade, senior administration officials said Friday night.

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  Government runs deficit for 40th straight month

  The federal government ran a deficit for the 40th straight month in January, according to the latest estimate from Congress' scorekeeper, continuing a record streak that dates back to the end of the George W. Bush administration and covers every month President Obama has been in office.

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  FEULNER: A job too good to be true

  Imagine a job where you earn an above-average salary, enjoy plenty of paid leave, have enviable health benefits and get to retire at age 56 with a generous pension. Sound good?

• Inside Politics

  The House on Thursday voted to take a "dynamic scoring" approach to assessing how legislation affects the economy, a budgetary method that Republicans say will help lawmakers make good decisions but Democrats say is a gimmick aimed at justifying tax cuts.

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  LAMBRO: Obama's recipe for poverty

  The Congressional Budget Office gave us a forecast Tuesday of a frightening fiscal catastrophe that threatens to engulf the government in a sea of debt.

• VERSACE: Slow-as-molasses growth projected to continue

  The stock market had a strong start to 2012, with the Dow Jones industrial average and the S&P 500 advancing in January, followed by a healthy start to February. Supporting the climb is the modest but continued improvement in domestic economic data and what appears to be a workable solution to the Greek debt crisis.

• House votes to repeal part of health care law

  The House voted Wednesday to repeal a part of President Obama's health care law deemed unsustainable by his own administration, sending the bill to the Senate, where Democrats have indicated they aren't ready to kill the long-term care program.

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  EDITORIAL: The economics of fear

  Hopes that America's economic or budgetary situation might improve anytime soon were dashed Tuesday. The Congressional Budget Office (CBO) issued its outlook through 2022, with near-term figures looking increasingly negative. This shouldn't surprise anyone.

• House votes to freeze federal workers' pay

  The House on Wednesday voted to freeze the pay of federal workers - including members of Congress - for a third consecutive year.

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  Budget chief: Big challenges, 'worrisome trends' for U.S.

  After years of putting off big decisions the federal government faces daunting budget challenges this year, according to Congress's chief scorekeeper, which said Tuesday that continued high unemployment, low tax rates and above-average spending are creating a volatile mixture.

• CBO says federal employees rake in much more pay

  Buoyed by generous benefit packages, federal workers earn significantly better compensation than similarly educated workers in the private sector, according to a report released Monday from Congress' chief scorekeeper that threatens to reignite at the national level last year's state battles over public-employee rights.

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  Retiring later a tough sell in cutting deficit

  Suppose Congress could adopt a simple measure that all at once takes a giant step toward taming huge budget deficits and gives a powerful boost to the economy and employment. It would pass in a minute, right?

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  LAMBRO: A speech about nothing

  There was very little that was really new in President Obama's agenda-setting State of the Union address to the nation Tuesday. Since when is it new for Mr. Obama to call for higher taxes on our economy?

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  SHIPMAN: Reshaping Social Security and our society

  Social Security has fundamentally changed. This is because the historical, almost sacrosanct, linkage between Social Security taxes and benefits has been severed. President Obama was able to achieve this feat with only marginal objection from supporters of the traditional system or from those who have advocated reforming Social Security to a saving-and-investment structure.

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  U.S. runs in the red for 39th straight month

  The federal government ran a deficit in December, marking the 39th straight month in the red, according to preliminary estimates Monday by the Congressional Budget Office, continuing a streak that dates back to the last days of President George W. Bush and encompasses President Obama's entire term.

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