CBO Estimate for HR 1: Jan 26th, 2009

(UPDATE: For some reason the detailed outlay tables vanished from the PDF linked to here. Leading some to put on their tin foil hats. Fear not, I have uploaded them and they appear under the fold). (UPDATE 2: Larger images at CBO Tables)
Via Prof. K. It turns out the ‘suppressed’ CBO ‘Report’ turned out to be a partial version of the appendix to the full estimate released concurrently with the filing of the bill. Meaning some people can take off their tin-foil hats. And BTW Boehner’s numbers are wrong precisely because the document he used was incomplete. In any event here is the real deal.
Congressional Budget Office Cost Estimate: H.R. 1 American Recovery and Reinvestment Act of 2009 and key grafs:

Assuming enactment in mid-February, CBO estimates that the bill would increase outlays by $93 billion during the remaining several months of fiscal year 2009, by $225 billion in fiscal year 2010 (which begins on October 1), by $159 billion in 2011, and by a total of $604 billion over the 2009-2019 period. That spending includes outlays from discretionary appropriations in Division A of the bill and direct spending resulting from Division B.

In addition, CBO and the Joint Committee on Taxation (JCT) estimate that enacting the provisions in Division B would reduce revenues by $76 billion in fiscal year 2009, by $131 billion in fiscal year 2010, and by a net of $212 billion over the 2009-2019 period.

Combining the spending and revenue effects of H.R. 1, CBO estimates that enacting the bill would increase federal budget deficits by $170 billion over the remaining months of fiscal year 2009, by $356 billion in 2010, by $174 billion in 2011, and by $816 billion over the 2009-2019 period.

52.6% of projected spending by the end of the first nineteen months (end FY 2010). It helps to use complete numbers.
As noted above the outlay tables can be found under the fold.




Tags: , Comments (0) | |