This report to Congress discusses the budgetary effects of legislation that would permanently prevent the use of appropriated funds to implement the Patient Protection and Affordable Care Act of 2010 (PPACA) and provisions related to health care in the Health Care and Education Reconciliation Act of 2010. It discusses many of the potential effects of a permanent ban on the use of appropriated funds to implement the health care laws and, where possible, provides information on whether those effects would increase or decrease direct spending or revenues. This is a print on demand edition of an important, hard-to-find report.
This report documents changes in the annual earnings of workers ages 25 to 54 between 1979 and 2007. The analysis compares the distribution of earnings for male and female workers and documents changes in the annual earnings of workers with very high earnings. It also examines changes in earnings mobility (the rate at which workers move from one position in the distribution to another) and earnings variability (the extent to which a worker¿s earnings change from one year to the next). This report provides objective, impartial analysis and makes no recommendations. Charts and tables.
Testimony on the opportunities and challenges that the Congress faces in pursuing two major policy goals: (1) expanding health insurance coverage, so that more Americans receive appropriate health care without undue financial burden; and (2) making the health care system more efficient, so that it can continue to improve Americans¿ health but at a lower cost in both the public and private sectors. Both are complex endeavors in their own right, and interactions and trade-offs between them may arise.
Here is a year-by-year estimate of the economic effects of the American Recovery and Reinvestment Act of 2009 (ARRA, Public Law 111-5), which was enacted on February 17, 2009. Taking all of the short- and long-run effects into account, the legislation implies an increase in GDP relative to a baseline forecast of between 1.4 percent and 3.8 percent by the fourth quarter of 2009, between 1.1 percent and 3.4 percent by the fourth quarter of 2010, between 0.4 percent and 1.2 percent by the fourth quarter of 2011, and declining amounts in later years. Beyond 2015, the legislation is estimated to reduce GDP by between zero and 0.2 percent. Tables and graphs.
This report provides a preliminary estimate for Congress that President Barack Obama¿s health care bill would reduce the federal deficit by $138 billion over 10 years. The $940-billion legislation would provide coverage by 2016 to 32 million currently uninsured Americans, raising the number of insured to about 95%. Further, the report estimates that the legislation might continue to reduce the federal deficit in its second decade, and it discusses the several factors that would bring this about. Charts and tables.
Statement about the CBO's analysis of the Patient Protection and Affordable Care Act and the provisions of the Health Care and Education Reconciliation Act of 2010 ("the Reconciliation Act,") that are related to health care. CBO and the staff of the Joint Comm. on Taxation have provided the Congress with extensive analyses of the legislation both before and after its enactment in March 2010. This statement summarizes the major results of those analyses -- in particular, the projected effects of those laws on the federal budget (over the first 10 years and the subsequent decade), health insurance coverage, Medicare, premiums for health insurance, and labor markets. Charts and tables. This is a print on demand report.
The unemploy. insur. (UI) program provides a weekly benefit to qualified workers who lose their job and are seeking work. The amount of that benefit is based on a worker¿s past earnings. The composition of the worker¿s family and the income of the family as a whole are not taken into account. This report examined the role of UI benefits in supporting the income of families in which at least one person was unemployed at some point in 2009. The analysis addressed how that role varied with the amount of family income and the number of weeks of unemployment for all family members. Without the financial support provided to families by UI benefits, the poverty rate would have been higher in 2009 than they actually were. Illustrations. This is a print on demand report.
The U.S. has just suffered through the most severe recession since the 1930s. The good news is that the economy appears to be starting to recover. In all likelihood the recovery will be dampened by a number of factors, including the continuing fragility of some financial markets and institutions; declining support from fiscal and monetary policy; and limited increases in households¿ spending because of slow income growth, lost wealth, and a large number of vacant houses. Real GDP will increase by 2.4 percent in 2011. Real GDP will accelerate after 2011. For 2012 through 2014, real GDP will increase by an average of 4.4 percent per year, which would close the gap between actual output and potential output by the end of 2014. Figures.