Consensus Revenue Forecasting

AFMD-92-70R: Published: May 26, 1992. Publicly Released: May 26, 1992.

Additional Materials:


Office of Public Affairs
(202) 512-4800

GAO reviewed the impact on the budget process of shared economic assumptions and the consensus revenue estimating process that the Congressional Budget Office (CBO) calls forecasts and the Office of Management and Budget (OMB) and CBO describe as projections. GAO noted that: (1) OMB was substantially more optimistic on economic growth than CBO for fiscal years 1988 through 1991; (2) at the federal level, achieving consensus on economic assumptions is easiest when either one party controls both the executive and the legislative branches or when there is bipartisan consensus on the basis for producing estimates; and (3) consensus forecasts eliminate technical or procedural flaws, giving rise to estimating inaccuracies.

Oct 7, 2020

Sep 23, 2020

Jan 23, 2020

Dec 19, 2019

  • budget icon, source: GAO

    State and Local Governments' Fiscal Outlook:

    2019 Update
    GAO-20-269SP: Published: Dec 19, 2019. Publicly Released: Dec 19, 2019.

Nov 14, 2019

Oct 16, 2019

Jun 26, 2019

Apr 10, 2019

Mar 27, 2019

Mar 22, 2019

Looking for more? Browse all our products here