An Analysis of the President's 2015 Budget
Abstract
This report by the Congressional Budget Office (CBO) presents an analysis of the proposals in the President s budget request for fiscal year 2015, as submitted to the Congress on March 4, 2014. The analysis is based on CBO s economic projections and estimating models (rather than the Administration s), and it incorporates estimates of the effects of the President s tax proposals that were prepared by the staff of the Joint Committee on Taxation (JCT). In conjunction with analyzing the President s budget, CBO has updated its baseline budget projections, which were previously issued in February 2014. Unlike its estimates of the President s budget, CBO s baseline projections largely reflect the assumption that current tax and spending laws will remain unchanged, and therefore the projections provide a benchmark against which potential legislation can be measured. Under that assumption, CBO estimates that the federal deficit would total $492 billion in 2014 and that the cumulative deficit over the 2015 2024 period would amount to $7.6 trillion.
Document Details
- Document Type
- Technical Report
- Publication Date
- Apr 01, 2014
- Accession Number
- ADA599567
Entities
People
- Barry Blom
- Christina H. Anthony
- Santiago Vallinas
Organizations
- Congressional Budget Office