A new CBO study finds that unemployment insurance is important in maintianing family income after a job-loss, and "the program has succeeded in preventing temporary poverty for a significant fraction of long-term UI recipients."
The Senate budget being debated this week includes only a two-year cap on appropriations, and continues Senate pay-go rules that apply to both entitlement increases and tax cuts. However, concern over other changes in budget rules remains.
The 2005 Budget submitted by the president last week contained only partial information for spending over the next 5 years. The Congressional Budget Office (CBO) has since developed estimates of costs contained in the president's FY2005 budget covering the period from 2005 to 2014.
This Tax and Budget Staff Note examines the impact of the President’s budget on federal revenue and on the longer-term fiscal situation. The final section offers some of the implications of the recent fiscal decline. Download full report (.pdf)