This report offers an alternative measure of the budget that incorporates adjustments for the effects of the business cycle. It is one of a series of periodic reports that the Congressional Budget Office (CBO) submits to the Committees on the Budget reports about fiscal policy and provide baseline projections of the federal budget. This report is based on information presented in A Preliminary Analysis of the President¿s Budget and an Update of a Budget and Economic Outlook, released in March 2009. Tables and figures.
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