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Politics : Evolution -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (22791)	3/13/2012 2:40:36 PM
From: J_F_Shepard	Read Replies (1) \| Respond to of 69300

The Congressional Budget Office was created by Title II of the Congressional Budget and Impoundment Control Act (P.L. 93-344), which was signed into law by President Richard Nixon on July 12, 1974. Official operations began on February 24, 1975, with Alice Rivlin as director. The CBO's mandate is to provide Congress with: Objective, nonpartisan, and timely analysis to aid in economic and budgetary decisions on a wide array of programs covered by the federal budget; And the information and estimates required by the Congressional budget process. [2] With respect to estimating spending for Congress, the Congressional Budget Office serves a purpose parallel to that of the Joint Committee on Taxation for estimating revenue for Congress, the Department of the Treasury for estimating revenues for the Executive and estimates required for the Congressional budget process. This includes projections on the effect on national debt [3] and cost estimates for legislation.