Publication Date: August 2007
Publisher: Center on Budget and Policy Priorities (Washington, D.C.)
Author(s): James Horney
Research Area: Banking and finance; Economics
Keywords: Economic projections; Fiscal future; Federal budget
The new budget and economic projections from the Congressional Budget Office confirm what thoughtful observers have said all year â€” the smaller deficit for this year does not mean the longer-term economic and budget outlook has significantly improved.Â Despite White House claims, CBO does not find that the Presidentâ€™s tax cuts â€œare workingâ€ to boost the economy and revenues and dramatically improve the budget outlook.