The Congressional Budget Office is a federal agency within the legislative branch of the United States government. It was created by the Congressional Budget and Impoundment Control Act of 1974. This is an incomplete list of federal agencies, which are either departmental agencies within the executive branch of the United States government or are Independent Agencies of the United States Government (including regulatory agencies and government corporations). ... The government of the United States, established by the United States Constitution, is a federal republic of 50 states, a few territories and some protectorates. ... The Congressional Budget and Impoundment Control Act of 1974 is a U.S. federal law passed by the United States Congress specifying that the President may propose to Congress that funds be rescinded. ...
With respect to the estimation of spending for Congress, the Congressional Budget Office serves a purpose parallel to that of the Joint Committee on Taxation for the estimation of revenue for Congress, the Department of the Treasury for the estimation of revenues for the executive branch, and the Office of Management of Budget for the estimation of spending for the executive branch. The Joint Committee on Taxation is a Committee of Congress established under the Internal Revenue Code. ... The United States Department of the Treasury is a Cabinet department and the treasury of the United States government. ... Under the doctrine of the separation of powers, the executive is the branch of a government charged with implementing, or executing, the law and running the day-to-day affairs of the government or state. ... The Office of Management and Budget (OMB) is a body within the Executive Office of the President of the United States (EOP) which is tasked with coordinating United States Federal agencies. ...
The responsibilities of this office include projecting the budgetary effects of proposed legislation. The main goal is to provide Congress with objective, timely, nonpartisan analyses needed for economic and budget decisions and with the information and estimates required for the Congressional budget process. This includes projections on the effect on national debt. Congress in Joint Session. ... A budget process refers to the process by which governmnets create and apporve a budget. ... Government debt (public debt, national debt) is money owed by government, at any level (central government, federal government, national government, municipal government, local government, regional government). ...
WASHINGTON (AP) - The budget deficit for the current year will be $172 billion, according to new estimates by the CongressionalBudgetOffice.
The latest CBO figures, disclosed by a congressional aide, also predict the budget could come back into surplus by 2012, although that would require President Bush's tax cuts to expire at the end of 2010.
The CBO figures, to be officially released later Wednesday, show the budget registering a $12 billion surplus by 2012.
The CongressionalBudgetOffice is a federal agency within the legislative branch of the United States government.
It was created by the CongressionalBudget and Impoundment Control Act of 1974.
The main goal is to provide Congress with objective, timely, nonpartisan analyses needed for economic and budget decisions and with the information and estimates required for the Congressionalbudget process.
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