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ONE THE ECONOMIC OUTLOOK
TWO THE BUDGET OUTLOOK
A Sequestration Preview Report
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adjusted appropriations average balance the budget Balanced Budget baseline projections benefits billions of dollars Blue Chip budget authority Budget Enforcement Act Budget Outlook budget resolution budgetary Bureau of Economic business cycle capital caps CBO estimates CBO projects Congress Congressional Budget Office consumer price index CPI-U current-policy cyclical cyclical deficit Debt Held defense deficit reduction deposit insurance differences discretionary inflation discretionary spending Economic Analysis economic assumptions effects enacted federal debt Federal Reserve fiscal policy forecast gross domestic product higher income and product income tax increase inflation after 1998 interest rates investment legislation long-term lower mandatory spending measure Medicaid Medicare ment NAIRU NIPA offsetting receipts Operation Desert Storm output percent Percentage change Percentage of GDP percentage point potential GDP potential output premiums programs rate of inflation real GDP retirement revenues savings Social Security SOURCE standardized-employment deficit Subtotal surplus Table tion trust funds unemployment rate