CBO report released, shows projected cuts to discretionary programs under current law

The non-partisan Congressional Budget Office (CBO) released its updated 10 year budget forecast on Feb 5. Under current law (where new revenues are not included), about $4 trillion in spending cuts over 10 years would be needed to end up with a balanced budget in 2023.   In order to balance the budget by 2023, annual non-defense discretionary spending (that includes housing, education, employment, family support and more) would need to be cut by about two-thirds if defense spending is not included in the spending cuts. See the report at CBO.gov.

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