Uncertainty in Budget Projections (CRS Report for Congress)
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| Release Date |
Feb. 14, 2001 |
| Report Number |
RL30854 |
| Report Type |
Report |
| Authors |
Philip D. Winters, Government and Finance Division |
| Source Agency |
Congressional Research Service |
Summary:
One can get a sense of how uncertain budget projections are by examining some of those made previously In January 1992, CBO projected a deficit of $322 billion for FY2000. The budget in FY2000 actually produced a surplus of $236 billion. This substantial change resulted almost exclusively from differences between the underlying assumptions-future economic conditions and the interaction of the economy and the budget-used in the original projections and those that actually occurred. CBO's budget reports indicate that very little of the budgetary change over those years resulted from legislation.
