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1 (March 23, 2005)

handle is hein.crs/crsaikz0001 and id is 1 raw text is: Order Code RS21756 March 23, 2005 CRS Report for Congress Received through the CRS Web The Option of Freezing Non-defense Discretionary Spending to Reduce the Budget Deficit Gregg Esenwein Specialist in Public Finance Government and Finance Division Philip D. Winters Analyst in Government Finance Government and Finance Division Summary Congressional concern over the size of the federal budget deficit has prompted calls for a reduction in federal expenditures. One proposal would freeze non-defense discretionary funding at its FY2005 level. Since non-defense discretionary outlays constitute slightly under 20% of overall federal outlays, limiting their growth would produce a modest reduction in the federal budget deficit. Congressional Budget Office (CBO) estimates indicate that freezing non-defense discretionary funding at its FY2005 level would produce a cumulative savings of approximately $147 billion including reduced interest payments over the FY2006 to FY2010 time period. These savings would reduce the cumulative baseline budget deficit by approximately 12% over the period. This report will not be updated. The Congressional Budget Office's (CBO's) FY2006 budget report shows a large estimated baseline deficit, $295 billion in FY2006, followed by declining deficits in subsequent years. Legislative language directs how CBO is to produce its baseline estimates, such that they estimate the future paths of federal revenues and spending under current laws and policies.1 Hence these baseline projections of budget deficits do not include future policy changes, no matter how likely they are to be adopted by Congress. Examples of such policy changes might include continued funding for the Congressional Research Service *+ The Library of Congress 1 CBO, Budget and Economic Outlook. Fiscal Years 2006-2015, p. xiii.

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