Congressional Budget Office

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Definition of the Congressional Budget Office:

The Congressional Budget Office is a nonpartisan federal government agency responsible for providing economic analyses of the economy and government proposals.

Detailed Explanation:

The Congressional Budget Office (CBO) is responsible for providing comprehensive, unbiased analysis of proposed government policies. This analysis helps inform congressional leaders before they vote on policies. The CBO also offers budget and economic outlooks, which examine macroeconomic trends and assess the potential impact of proposed policies on revenues and costs. In addition, the CBO conducts detailed studies on a wide range of topics including agriculture, health care, climate, education, energy, and finance. You can access these studies and learn more by visiting their website.

Congressional Budget Office

Dig Deeper With These Free Lessons:

Fiscal Policy – Managing The Economy by Taxing and Spending
Gross Domestic Product – Measuring an Economy’s Performance
Monetary Policy – The Power of an Interest Rate
The Federal Budget And Managing The National Debt

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