–Congressional Budget Office Report To Kick Off Fiscal Debate
–CBO Budget and Economic Report To Be Released At 10 A.M. on Jan 31
–CBO Chief Elemndorf To Hold 11 A.M. Briefing on New Report
By John Shaw
WASHINGTON (MNI) – This year’s fiscal debate on Capitol Hill will
begin when the Congressional Budget Office releases its new budget and
economic report on Jan. 31 at 10 am ET.
CBO director Doug Elmendorf will hold a 11 a.m. briefing on the
report and will likely testify on the report later in the week before
the House and Senate Budget Committees.
The CBO report will focus on fiscal years 2013 through 2022, but it
will also give an updated budget deficit estimate for FY’12.
The CBO report will include updated economic and deficit estimates
for the coming decade.
The House returns to Washington on Jan. 17 while the Senate
reconvenes on Jan. 23.
President Obama will give his State of the Union Address on January
24 and then is scheduled to release his budget in early February,
probably February 6.
The president is also expected to nominate in the coming weeks a
candidate to succeed the current White House budget director Jack Lew
who has just been selected as the new White House chief of staff.
Both the House and Senate will hold several months of hearings on
Obama’s budget and the overall economic outlook as reflected by the CBO
report.
The House and Senate Budget Committees are charged to craft
congressional budget resolutions this spring to outline spending and
revenue goals and to make deficit projections.
** Market News International Washington Bureau: (202) 371-2121 **
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