Economic Effects of Fiscal Policy
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Report
A Macroeconomic Analysis of the President’s 2017 Budget
June 6, 2016The President’s budget proposals would make U.S. output larger over the next decade than it would be under current law—mostly by changing immigration laws. The economic effects would affect the budget in ways that would reduce deficits.
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A Macroeconomic Analysis of the President’s 2016 Budget
August 21, 2015The President’s policies would make U.S. output larger over the next decade than it would be under current law—mostly by changing immigration laws. Such economic effects would feed back into the budget in ways that would reduce deficits.
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Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output in 2014
February 20, 2015In calendar year 2014, ARRA—which was enacted in 2009—raised real GDP by between a small fraction of a percent and 0.2 percent and increased the number of full-time-equivalent jobs by between a slight amount and 0.2 million, CBO estimates.
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Federal Policies and Innovation
November 17, 2014The federal government influences innovation through two broad channels: spending and tax policies, and the legal and regulatory systems. Policymakers have a number of options for spurring additional innovation.
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How CBO Analyzes the Effects of Changes in Federal Fiscal Policies on the Economy
November 10, 2014In certain reports and for some major pieces of legislation, CBO analyzes the short- and longer-term effects on the overall economy of changes in federal tax and spending policies. This report explains the methods that CBO uses.
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Budgetary and Economic Outcomes Under Paths for Federal Revenues and Noninterest Spending Specified by Chairman Ryan, April 2014
April 1, 2014Under budgetary paths, but not particular policies, specified by Chairman Ryan, total deficits and debt would be smaller than under CBO’s extended baseline. Economic output would be lower in the next few years but higher thereafter.
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The Economic Impact of S. 744, the Border Security, Economic Opportunity, and Immigration Modernization Act
June 18, 2013S. 744 would boost economic output—CBO projects—by 3.3 percent in 2023 and by 5.4 percent in 2033. Employment, investment, and productivity would increase, but average wages would be less than under current law until 2025.
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Policies for Increasing Economic Growth and Employment in 2012 and 2013
November 15, 2011Testimony by Douglas W. Elmendorf, CBO Director, before the Committee on the Budget, United States Senate
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Economic Impacts of Waiting to Resolve the Long-Term Budget Imbalance
December 10, 2010This issue brief analyzes the economic effects of waiting 10 years–from 2015 to 2025–to implement policies that would stabilize the ratio of debt to output.