“Each year CBO estimates the budgetary impact of the proposals in the President’s budget using the same economic assumptions and estimating techniques that the agency uses to produce all of its analyses and cost estimates. Because CBO’s economic forecast and estimating techniques differ from those of the Administration, that “reestimate” of the President’s budget produces estimates of federal revenues, spending, deficits, and debt that differ from those presented in the budget itself. This report compares CBO’s projections with those of the Administration and with the benchmark figures in CBO’s baseline, which shows the budgetary outlook if current laws and policies remained unchanged. CBO’s use of a consistent methodology for all of these analyses and estimates allows direct comparisons between the Administration’s proposals and other options that are considered by the Congress during the legislative process.”
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