U.S. Economic Outlook
“Sequestration,” a legal procedure in which every federal agency has the same percentage of its budget taken back in order to cut deficit spending, was agreed to in the Budget Control Act of 2011 and scheduled to happen on March 1, 2013.
Douglas Elmendorf testified on the 2013 federal budget and economic outlook. He predicted that economic growth would be slow during the year… read more
Douglas Elmendorf testified on the 2013 federal budget and economic outlook. He predicted that economic growth would be slow during the year while unemployment would remain high, in part because of spending cuts that Congress would be forced to enact to avoid sequestration. Additionally, the CBO estimated that although the deficit would drop in 2013, it would rise back up to $1 trillion because of entitlement spending for an aging population.
“Sequestration,” a legal procedure in which every federal agency has the same percentage of its budget taken back in order to cut deficit spending, was agreed to in the Budget Control Act of 2011 and scheduled to happen on March 1, 2013. close
People in this video
More PeopleHosting Organization
Related Video
-
2013 Budget and Economic Outlook
Douglas Elmendorf held a news conference on the just released projection of the federal budget and the economy for the n…
-
U.S. Economic Outlook
Douglas Elmendorf testified on the Congressional Budget Office report The Budget and Economic Outlook: 2014 to 2024. Man…
-
Federal Budget and Economic Outlook
Douglas Elmendorf testified on the new Congressional Budget Office outlook on the federal budget and U.S. economy. He sa…
-
2014 Economy Summit, Douglas Elmendorf
Congressional Budget Office (CBO) Director Doug Elmendorf talked about his role as director and about the U.S. economy. …