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:
“Men are but children of a larger growth,
Our appetites as apt to change as theirs,
And full as craving too, and full as vain.”
—John Dryden (1631–1700)