I. Policy Proposals - Relative to What? Three times every year the Congressional Budget Office (CBO) produces a "baseline" of its budget outlook for the coming decade. As described by CBO, the baseline represents its "best judgment of how the…
The outlook for the federal budget is deceptively benign under the January 2006 baseline assumptions of the Congressional Budget Office (CBO). In its latest 10-year projections, CBO describes a budget that will reach balance in 2012 and stay balanced through…