About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

Letter from Dan L. Crippen, Director Congressional Budget Office to Jim Nussle re: on the risk that provision of full concurrent receipt of military retired pay and disability compensation would reduce the surplus below the level of the Medicare Hospital Insurance (HI) trust fund 1 (June 2001)

handle is hein.congrec/cbo9971 and id is 1 raw text is: June 20, 2001 Honorable Jim Nussle Chairman Committee on the Budget U.S. House of Representatives Washington, DC 20515 Dear Mr. Chairman: Section 314 of the Concurrent Resolution on the Budget for Fiscal Year 2002 (H. Con. Res. 83) expresses the sense of the Congress that the Congressional Budget Office should report on the risk that provision of full concurrent receipt of military retired pay and disability compensation would reduce the surplus below the level of the Medicare Hospital Insurance (HI) trust fund. This letter answers that request. CBO published its most recent baseline budget projections in An Analysis of the President's Budgetary Proposals for Fiscal Year 2002, which was issued in May 2001. Assuming that annual appropriations would increase at the rate of inflation and that laws governing revenues and mandatory spending would remain unchanged, CBO estimated that on-budget surpluses would total $3.1 trillion over the 2002-2011 period. Since that time, the Congress passed and the President signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001 (Public Law 107-16), which is estimated to decrease tax revenues and increase outlays, including increased debt-service costs, by a total of $1.7 trillion over the 10-year period. After incorporating the effects of the tax bill into the May 2001 baseline, CBO estimates the on- budget surplus for the 2002-2011 period will total $1.5 trillion (see Table 1). That amount includes an HI trust fund surplus estimated to total $397 billion over the 2002-2011 period. Thus, under baseline assumptions, CBO estimates the on-budget surplus excluding the HI trust fund will total $1.1 trillion over the 10-year period.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most