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Read. Follow. Verify.Congressional Budget Office (CBO) Budget and Economic Outlook Hearing
Record date · January 1, 2019
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What This Bill Does
The House Committee on the Budget held a hearing on January 29, 2019, to review the Congressional Budget Office's (CBO) latest projections for the U.S. economy and federal budget. The discussion focused on rising national debt, deficit projections, and the long-term impact of recent tax legislation.
This hearing establishes the official federal for 2019, which informs future congressional decisions on spending, taxation, and national debt management.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
U.S. Taxpayers
Federal fiscal policy and debt levels influence long-term economic conditions, interest rates, and the availability of government services.
Congressional Budget Office
The agency is responsible for producing the economic outlook and baseline projections used by Congress.
Key Facts
- The CBO projects the federal deficit for 2019 will be $118 billion higher than the previous year.
- The national debt is projected to reach 93 percent of GDP by 2029.
- The national debt is projected to reach 150 percent of GDP by 2049.
- The U.S. economy experienced 114 months of economic growth as of January 2019.
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- The U.S. economy experienced 99 months of uninterrupted job creation as of January 2019.
- The hearing was held on January 29, 2019, in Room 1334 of the Longworth House Office Building.
Frequently Asked Questions
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News Coverage
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Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Fiscal Outlook Divergence
The document highlights a disconnect between a period of record economic expansion and rising long-term deficit projections.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance85How much this matters to a regular citizen
- Controversy60Intensity of disagreement among stakeholders
- Entertainment20Compellingness for a non-policy-wonk reader
- Buzz30Current news / social attention level
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