CBO along with other agencies face a roughly 5 percent decrease on March 1.
Dr. Elmendorf, welcome to the subcommittee.
During my absence from the Appropriations Committee, I had the pleasure of interacting with you as a Member of the Budget Committee in the 112th Congress. My time on that Committee gave me a great appreciation of the amount of work and analysis that CBO produces for Congress, and especially for the Budget and Appropriations Committees.
According to your testimony, CBO is requesting $45.7 million for fiscal year 2014. In normal budgetary times, a 3.7 percent requested increase is within the bounds of reason.
Yet, you know more than most that we are operating in a time of great uncertainty with the prospect of sequestration just days away.
In fact, the impact of sequester is an appropriate topic for discussion today as CBO along with other agencies face a roughly 5 percent decrease on March 1. I look forward to hearing your thoughts on the impact sequester will have, particularly on our economy.
Lastly, I want to express my appreciation to your staff. Congress has passed significant budget and tax legislation that impact the projections your agency produces. Your staff has continued to produce quality mandated requirements with a declining budget.
Thank you Mr. Chairman and I look forward to Dr. Elmendorf's testimony.
Source: U.S. Department of HCA
