CBO

Let's take the politics out of the debate over public sector unions and their benefits, and look strictly at the figures. When you strip away the rhetoric, you can chart two macroeconomic trends and two patterns of fiscally foolish assumptions that have put both states and unions into this mess.

Washington now spends that much more than it did a mere three years ago. But trying to figure out what we're getting for all that extra money is no simple matter. A lot of slicing and dicing does yield some answers -- none of which are very satisfying.

Like all budgets, the federal government's spending plan is all about revenues and expenditures. Unfortunately, Uncle Sam is very good at grossly overestimating tax receipts and grossly underestimating spending. It's enough to make you wonder if any of it is real.

The tax cut compromise between Obama and the GOP is now being touted as a back-door stimulus plan, one that some economists predict will create or save 3.1 million jobs. Unfortunately, the model on which those forecasts are based makes some flawed assumptions.

The much-criticized Troubled Asset Relief Program (TARP) will end up costing the federal government about $25 billion, far less than previously expected. A report from the Congressional Budget Office (CBO) said that the costs will largely stem to funds given to American International Group (AIG),...

By some calculations, the Obama plan will help trim future budget gaps. But other figures show it'll only make things worse. The problem is that no one knows for sure right now, and that makes sensible spending choices ever harder to make.

Experts have said for some time that the Social Security fund would run out of money between 2035 and 2040. But new data show that payouts will exceed collections this year. Why? High unemployment means fewer paychecks to tax.

Spending on health care is projected to rise from 16% of gross domestic product (GDP) in 2007 to 37% by 2050 and 49% by 2082. In other words, if allowed to grow uncontrolled, health care will eat up half of everyone's spending money by 2082. Federal spending on health care also will grow to...

Based on testimony from the head of the Congressional Budget Office (CBO), government experts can't figure out where the economy is going. That means that predicting the federal deficit, the amount of debt the Treasury will have to raise and the future burden on taxpayers is merely...

Most investors know that government budgets are a function of revenue (mostly taxes) and outlays (spending). But those inside the beltway know that there is more to the U.S. federal budget. In addition to the Congressional Budget Office (CBO) and executive Branch Office of Management and Budget...