Presentation by Doug Elmendorf, Director, to the budget conference committee led by Chairman Paul Ryan of the House Budget Committee and Chairman Patty Murray of the Senate Budget Committee
Boost the utilization of your HCL environment by reevaluating use cases and f...
Presentation to the Budget Conference Committee
1. Congressional Budget Office
Presentation to the
Budget Conference Committee
Douglas W. Elmendorf
Director
November 13, 2013
Note: Data from 1929 onward reflect recent revisions by the Bureau of Economic Analysis to estimates of gross domestic product
(GDP) in past years and CBO’s extrapolation of those revisions to projected future GDP. Except where noted, budget figures for
2013 reflect CBO’s May 2013 baseline projection.
3. Share of Population Age 16 and Older That Is Employed
Percent
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4. Short-Term and Long-Term Unemployment Rates
Percent
The long-term unemployment rate refers to workers who have been unemployed for at least 27 weeks; the short-term unemployment
rate refers to all other unemployed workers.
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5. Federal Budget Deficits or Surpluses
Percentage of GDP
4
Surpluses
Actual
4
Baseline Projection
0
0
-4
-4
Deficits
-8
-8
-12
-12
1973
1978
1983
1988
1993
1998
2003
2008
2013
The deficit figure for 2013 comes from the Final Monthly Treasury Statement released on October 30, 2013.
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2018
2023
6. Federal Debt Held by the Public Under CBO’s
Extended Baseline
Percentage of GDP
120
Actual
World War II
Projected
80
Great
Depression
40
0
1790
World War I
Civil War
1805
1820
1835
1850
1865
1880
1895
1910
1925
1940
1955
1970
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1985
2000
2015
2030
7. Federal Spending and Revenues Under CBO’s Baseline,
Compared with Past Averages
Percentage of GDP
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8. Categories of Noninterest Spending Apart from Social
Security, Medicare, and Defense
Percentage of GDP
Means-tested health care programs include Medicaid, the Children's Health Insurance Program, and subsidies offered through health
insurance exchanges and related spending.
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