Following the release of CBO’s analysis of the President’s FY 2014 budget, in today’s blog post, Director Doug Elmendorf compares the President’s plan with Congressional budget plans.
Enactment of the President’s proposals would, CBO and the staff of the Joint Committee on Taxation estimate, result in deficits totaling $5.2 trillion between 2014 and 2023, $1.1 trillion less than the cumulative deficit in CBO’s baseline.