Congressional Budget Office Looks into the Future
On January 27, 1994, the Congressional Budget Office (CBO) issued its Budget Outlook for Fiscal Years 1995-1999. In a similar report issued last year, the CBO predicted the deficit would soar above $350 billion by fiscal year 1998. In the newest report, it predicts the deficit will fall from $233 billion in the current year to below $170 billion in 1996, then creep up to around $200 billion in 1999. It expects growth to continue at a moderate rate, unemployment to decline gradually, and interest rates to edge up. The consumer price index is expected to grow at an annual rate of approximately 3% through 1995.
Unemployment is projected to decline from 6.4% in December 1993 to 6.0% …
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Publication information:
Article title: Congressional Budget Office Looks into the Future.
Contributors: Not available.
Magazine title: The CPA Journal.
Volume: 64.
Issue: 4
Publication date: April 1994.
Page number: 8+.
© New York State Society of Certified Public Accountants Feb 2009.
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