Causes of Change in CBO Forecasts
The U.S. budget situation has deteriorated significantly since 2001, when the Congressional Budget Office (CBO) forecast average annual surpluses of approximately $850 billion from 2009–2012. The average deficit forecast in each of those years is now approximately $1.215 trillion.
CBO data is based only on current law, so policy proposals that have yet to be made law are not included in their analysis.
Read more about this topic: 2010 United States Federal Budget
Famous quotes containing the word change:
“I had such a wonderful feeling last night, walking beneath the dark sky while cannon boomed on my right and guns on my left ... the feeling that I could change the world only by being there.”
—Viorica Butnariu, Rumanian student at Bucharest University. letter, Dec. 23, 1989, to American friend. Observer (London, Dec. 31, 1989)