Following the Congressional Budget Office release of an updated budget and economic outlook this past Monday, both the Center on Budget and Policy Priorities and the
Senate Budget Committee Democratic Staff released their own analyses of the CBO update.
While both CBPP and the Senate budget staff believe the projections are improvements on the White House's mid-year update, they also believe the estimates are too optimistic. In particular, the two reports stress the long-term budget picture has not improved significantly and also that it will drastically worsen if the tax cuts from 2001 and 2003 are extended.