July 28th, 2011
01:15 PM ET
The Congressional Budget Office’s mandate is to provide the Congress with: Objective, nonpartisan, and timely analyses to aid in economic and budgetary decisions on the wide array of programs covered by the federal budget and the information and estimates required for the Congressional budget process.
The CBO was founded on July 12, 1974.
The Speaker of the House of Representatives and the President pro tempore of the Senate jointly appoint the CBO Director, after considering recommendations from the two budget committees.
The term of office is four years, with no limit on the number of terms a Director may serve.
Alice Rivlin was the first director. She was also the longest serving from 1975-1983.
The CBO currently employs about 250 people. The agency is composed primarily of economists and public policy analysts.
Workload: In fiscal year 2010, CBO issued 33 studies and reports, 12 briefs, 12 Monthly Budget Reviews, 35 letters, 14 presentations, and 2 background papers–along with 2 other publications and numerous supplemental data. CBO also testified before the Congress 14 times on a variety of issues. In calendar year 2010, CBO completed approximately 650 federal cost estimates as well as about 475 estimates of the impact of legislation on state and local governments, including the identification of any unfunded mandates contained in such legislation, and about 475 estimates of the impact of any unfunded mandates on the private sector.
Source: Congressional Budget Office