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 Decade: 2000-2009
 Year: 2005
 Collection: Congressional Research Service Reports
Baseline Budget Projections Under Alternative Assumptions

Baseline Budget Projections Under Alternative Assumptions

Date: February 8, 2005
Creator: Esenwein, Gregg A & Labonte, Marc
Description: The Congressional Budget Office (CBO) estimates a baseline budget based on simple rules prescribed by law. Statute requires CBO to project a baseline of revenues and outlays under current law over the next 10 years. Arguably, a “better guess” of the probable path of the federal budget under current policy might be achieved by modifying four assumptions in the CBO baseline. First, that discretionary spending will remain constant as a share of GDP rather than growing at the rate of inflation. Second, that military operations in Iraq and Afghanistan will continue and should be counted in the baseline rather than omitted. Third, that recent tax reduction will be extended rather than allowed to expire. Fourth, that the alternative minimum tax (AMT) relief will be extended rather than allowing the AMT to “take back” the reductions in regular income tax.
Contributing Partner: UNT Libraries Government Documents Department
The Budget for Fiscal Year 2006

The Budget for Fiscal Year 2006

Date: October 5, 2005
Creator: Winters, Philip D
Description: The budget report of the Congressional Budget Office (CBO), The Budget and Economic Outlook: Fiscal Years 2006-2015 (January 25, 2005), included baseline estimates (assuming current policies) for FY2005 through FY2015. Under the baseline assumptions, CBO estimated a FY2006 deficit of $295 billion (2.3% of gross domestic product [GDP]). This is smaller than CBO’s FY2005 baseline deficit estimate ($368 billion, 3.0% of GDP). CBO’s baseline estimates do not include assumptions about possible future legislation that may increase or decrease spending or receipts and therefore change the deficit. The baseline assumptions assume the continuation of current law, including that laws changing the level of future revenues or outlays will go into effect as scheduled. Hurricane Katrina’s devastation of the central Gulf Coast and additional damage done by Hurricane Rita has changed the budget outlook for fiscal year (FY) 2006.
Contributing Partner: UNT Libraries Government Documents Department
The Budget for Fiscal Year 2006

The Budget for Fiscal Year 2006

Date: March 31, 2005
Creator: Winters, Philip D
Description: The budget report of the Congressional Budget Office (CBO), The Budget and Economic Outlook: Fiscal Years 2006-2015 (January 25, 2005), included baseline estimates (assuming current policies) for FY2005 through FY2015. Under the baseline assumptions, CBO estimated a FY2006 deficit of $295 billion (2.3% of gross domestic product [GDP]). This is smaller than CBO’s FY2005 baseline deficit estimate ($368 billion, 3.0% of GDP). CBO’s baseline estimates do not include assumptions about possible future legislation that may increase or decrease spending or receipts and therefore change the deficit. The baseline assumptions assume the continuation of current law, including that laws changing the level of future revenues or outlays will go into effect as scheduled.
Contributing Partner: UNT Libraries Government Documents Department
The Budget for Fiscal Year 2006

The Budget for Fiscal Year 2006

Date: July 21, 2005
Creator: Winters, Philip D
Description: On February 7, 2005, the President presented his FY2006 budget, containing proposals and estimates for FY2006 through FY2010. The proposal has a deficit of $390 billion (3.0% of GDP) in FY2006, and steadily declining deficits through FY2010. The budget did not include estimates of the cost of the war on terror beyond FY2005. It did not include cost estimates of the Administration’s proposals for changes in Social Security. It did include specific proposals that, over five years, would reduce spending among the non-defense discretionary programs; slow the growth in defense spending; slow the growth in selected categories of mandatory spending; and make further tax cuts along with making permanent the 2001 and 2003 tax cuts.
Contributing Partner: UNT Libraries Government Documents Department
Baseline Budget Projections: A Discussion of Issues

Baseline Budget Projections: A Discussion of Issues

Date: March 1, 2005
Creator: Labonte, Marc
Description: Between January 2001 and January 2005, the Congressional Budget Office (CBO) reduced its 10-year baseline projection for the period 2002-2011 from a peak surplus of $5.6 trillion to a deficit of $2.6 trillion for three reasons. First, about one third of the reduction is due to technical revisions CBO made to its projections (e.g., to account for the smaller than predicted growth in tax revenues). Second, the recession both reduced revenues and raised outlays automatically. This factor accounts for less than one-tenth of the 10-year decline, and is only significant in 2002 and 2003. Finally, about 60% of the reduction was due to policy changes, the largest of which was tax cuts, and the second largest of which was increased military outlays. Even without a recession or technical revisions, policy changes alone would have pushed the budget into deficit from 2003 to 2005.
Contributing Partner: UNT Libraries Government Documents Department
The Magnitude of Changes That Would Be Required to Balance the FY2006 Budget

The Magnitude of Changes That Would Be Required to Balance the FY2006 Budget

Date: February 24, 2005
Creator: Labonte, Marc
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Defense: FY2006 Authorization and Appropriations

Defense: FY2006 Authorization and Appropriations

Date: June 17, 2005
Creator: Daggett, Stephen
Description: This report is a guide to one of the 13 regular appropriations bills that Congress considers each year. It is designed to supplement the information provided by the House and Senate Appropriations Subcommittees on Defense. It summarizes the status of the bill, its scope, major issues, funding levels, and related congressional activity, and is updated as events warrant. The report lists the key CRS staff relevant to the issues covered and related CRS products.
Contributing Partner: UNT Libraries Government Documents Department
Defense: FY2006 Authorization and Appropriations

Defense: FY2006 Authorization and Appropriations

Date: December 9, 2005
Creator: Daggett, Stephen
Description: This report is a guide to one of the 13 regular appropriations bills that Congress considers each year. It is designed to supplement the information provided by the House and Senate Appropriations Subcommittees on Defense. It summarizes the status of the bill, its scope, major issues, funding levels, and related congressional activity, and is updated as events warrant. The report lists the key CRS staff relevant to the issues covered and related CRS products.
Contributing Partner: UNT Libraries Government Documents Department
Defense: FY2006 Authorization and Appropriations

Defense: FY2006 Authorization and Appropriations

Date: July 8, 2005
Creator: Daggett, Stephen
Description: This report is a guide to one of the 13 regular appropriations bills that Congress considers each year. It is designed to supplement the information provided by the House and Senate Appropriations Subcommittees on Defense. It summarizes the status of the bill, its scope, major issues, funding levels, and related congressional activity, and is updated as events warrant. The report lists the key CRS staff relevant to the issues covered and related CRS products.
Contributing Partner: UNT Libraries Government Documents Department
Defense: FY2006 Authorization and Appropriations

Defense: FY2006 Authorization and Appropriations

Date: May 17, 2005
Creator: Daggett, Stephen
Description: This report is a guide to one of the 13 regular appropriations bills that Congress considers each year. It is designed to supplement the information provided by the House and Senate Appropriations Subcommittees on Defense. It summarizes the status of the bill, its scope, major issues, funding levels, and related congressional activity, and is updated as events warrant. The report lists the key CRS staff relevant to the issues covered and related CRS products.
Contributing Partner: UNT Libraries Government Documents Department
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