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    Congressional Budget Office

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    • CBO projects virus impact could trim GDP by $15.7 trillion

      CBO projects virus impact could trim GDP by $15.7 trillion

      The CBO, which had already issued a report forecasting a severe economic impact over the next two years, expanded that forecast to show that the severity of the economic shock could depress growth for far longer.

    • US economy won't reclaim all of its lost ground until after 2021: CBO

      US economy won't reclaim all of its lost ground until after 2021: CBO

      In an updated economic forecast, the CBO projected the economy would contract at a 37.7% annual rate in the second quarter, but expand at a 21.5% pace in the July-September period.

    • US records biggest budget surplus in 7 years

      US records biggest budget surplus in 7 years

      In monthly budget report, the Treasury Department of US said that the April surplus totaled USD 156.7 billion, up from a surplus of USD 106.9 billion a year earlier. It was the largest surplus since April 2008.

    • Obamacare to cut work hours by equivalent of 2 million jobs

      Obamacare to cut work hours by equivalent of 2 million jobs

      In its latest US fiscal outlook, the nonpartisan CBO said the health law would lead some workers, particularly those with lower incomes, to limit their hours to avoid losing federal subsidies that Obamacare provides to help pay for health insurance and other healthcare costs.

    • `Obamacare` to offer more choices

      `Obamacare` to offer more choices

      The White House posted a memo that concluded that most of the consumers who seek insurance from federal- or state-run insurance markets will be able to choose from five or more different insurance companies.

    • Obama's budget cuts deficit $1.1 trillion over decade: CBO

      Obama's budget cuts deficit $1.1 trillion over decade: CBO

      Near-term US deficits under President Barack Obama's 2014 budget plan would be higher than those forecast by the Congressional Budget Office this week but would be USD 1.1 trillion lower over the coming decade, CBO said on Friday.

    • Even brief spending cuts could hit US economy hard

      Even brief spending cuts could hit US economy hard

      The US economy could take a big hit from automatic government spending cuts even if Congress only leaves them in place for a month or two.

    • US deficits to shrink through 2015, but debt to deepen: CBO

      US deficits to shrink through 2015, but debt to deepen: CBO

      The US budget deficit will drop below USD 1 trillion in 2013 for the first time during Barack Obama's Presidency, the Congressional Budget Office (CBO) said on Tuesday, but it warned that debt will swell to unsustainable levels without further action by lawmakers.

    • How AIG will - or won't - generate a bailout profit

      How AIG will - or won't - generate a bailout profit

      CEO Bob Benmosche says US taxpayers will earn up to USD 10 billion on the USD 182 billion rescue of American International Group, the insurance company he runs. Of course, that depends on how one defines "profit."

    • Wall St higher after CBO report, durables data

      Wall St higher after CBO report, durables data

      US stocks rose on Wednesday after the Congressional Budget Office offered an upbeat forecast on the worrisome budget deficits and data showed a strong reading on durable goods orders.

    • Don't see any reason for US downgrade: JPMorgan Chase

      Don't see any reason for US downgrade: JPMorgan Chase

      Speaking to CNBC-TV18 in an exclusive, James Glassman, Senior Economist, JPMorgan Chase Bank, says that he doesn’t see any reason for the US downgrade. “The US budget deficit will soon be down to a sustainable range of 1-2% GDP level,” he says.

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