Lanterna Rally

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Published: 2000

Total Pages: 114

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As requested by the Senate Committee on Appropriations, the Congressional Budget Office (CBO) has estimated the effects of the proposals in the President's budget request for fiscal year 2001 using CBO's economic and technical estimating assumptions. Under the Administration's policies, CBO estimates a total budget surplus of $190 billion for 2001 consisting of an on-budget surplus of $24 billion and an off-budget surplus of $166 billion. (On-budget totals exclude Social Security inflows and outflows as well as the net cash flow to the Postal Service.) Cumulative on-budget surpluses, by CBO's tally, would reach $423 billion over the 2001-2010 period, and off-budget surpluses $2.3 trillion, under the President's proposals (see Summary Table 1). CBO's estimates of budgetary totals are quite close to those of the Administration, which projects cumulative on-budget surpluses of $350 billion over the 10-year period and off-budget surpluses of $2.2 trillion.