CBO Offers 121 Ways to Shrink the Deficit

CBO Offers 121 Ways to Shrink the Deficit

The Congressional Budget Office has released a 326-page guide that describes dozens of ways the federal government could reduce its large and growing budget deficit. The 121 policy options included in the volume would “put the federal budget on a sustainable long-term path” by increasing revenues, reducing spending, or some combination of both.

“Most of the options described in the report would save $10 billion or more between 2019 and 2028,” CBO director Keith Hall wrote.

The list is meant as a guide for lawmakers and includes an extensive discussion about the fiscal implications for each option. There’s even a search tool.

Here are a few samples from the list, along with the projected 10-year savings:

  • $18 billion to $94 billion: Reduce Quality Bonus Payments to Medicare Advantage Plans
  • $32 billion: Defer Development of the B-21 Bomber
  • $202 billion: Use an Alternative Measure of Inflation to Index Social Security and Other Mandatory Programs
  • $35 billion: Increase Appropriations for the Internal Revenue Service’s Enforcement Initiatives

Read the full CBO analysis here