Presentation by Keith Hall, CBO Director, at the Robert H. Smith School of Business, University of Maryland, February 23, 2016: “Since 1975, CBO has produced nonpartisan analyses of budgetary and economic issues to support the Congressional budget process. Each year, the agency’s economists and budget analysts produce dozens of reports and hundreds of cost estimates for proposed legislation. One such report is the annual Budget and Economic Outlook, which is generally released each January and updated in August, and projects economic and budget outcomes under the assumption that current laws regarding federal spending and revenues generally remain in place. Those baseline projections cover the 10-year period used in the Congressional budget process. This presentation includes some key elements of those projections.”