The Economic Budget Outlook

Chapter one covers the state of the economy, the economic outlook, and risks to the economic outlook. Chapter two covers the deficit outlook, revenue and spending projections, changes resulting from the reconciliation legislation, other changes in the budget outlook, and the federal sector of the national income and product accounts. Appendixes include: changes in calculating the Consumer Price Indexes, and a sequestration update report for fiscal year 1998. Charts and tables.

Contents: the economic outlook (the state of the economy); the budget outlook (the deficit outlook; the revenue outlook; the spending outlook; Fed. funds and trust funds); uncertainty in budget projections (the budgetary impact of alternative economic assumptions; other factors that may affect budgetary outcomes); and economic and budgetary implications of balancing the budget. Appendixes: Medicare projections; historical budget data; how the economy affects the budget; the Fed. sector of the nat. income and product accounts; projections of nat. health expend. Glossary.