Tag: CBO

Senate’s "fiscal cliff" bill adds $4 trillion to deficits: CBO

Your Health Matters

WASHINGTON (Reuters) – The Congressional Budget Office on Tuesday said Senate-passed legislation to avert the “fiscal cliff” would add nearly $4 trillion to federal deficits over a decade, largely because it would extend low tax rates for almost all Americans. The congressional scorekeeper’s analysis was released as a number of Republicans in the House of Representatives voiced opposition to the bill, and considered amending it with deeper spending cuts. House Majority Leader Eric Cantor and others complained the bill’s spending cuts would do little to curb trillion-dollar deficits. …

Medicare spending forecast reduced in new CBO analysis

Your Health Matters

WASHINGTON (Reuters) – Medicare, the popular healthcare program for the elderly that both political parties vow to rescue from financial ruin, will spend less money over the coming decade than previously expected, U.S. analysts said on Wednesday. In a report on the U.S. economy and budget, the non-partisan Congressional Budget Office reduced its spending forecasts for Medicare by $19 billion for 2012 and by $169 billion over the coming decade from earlier this year. Total Medicare spending is projected at $7.7 trillion for the 10 years ending in 2022. …

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