They’re a little late, but the Congressional Budget Office’s (CBO’s) updated budget numbers are finally out. They tell a fiscal story that is not surprising to anyone who has been paying attention to government spending over the past few years, but is worrisome nonetheless. Unfortunately, there’s little reason for optimism that Congress is about to get its act together.
The CBO usually releases its updated budget baseline around the beginning of the year, but was late this year due to delays in Congress’s appropriations process. But even as the updated CBO numbers show a government transitioning from crisis mode to more “normal” spending levels, they also show that “normal” is not sustainable.
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