Policies in the FY 2016 President's Budget
The President released his FY 2016 budget today, describing his proposals for this year and the next decade. We already published a short blog describing the key fiscal numbers in the President's Budget, and will publish a full paper later today.
Here are the major proposals in the President's Budget, with additional deficits in black and additional savings in red. The "OMB Baseline" measures the savings that are claimed by the President's Budget. "PAYGO Baseline" represents our calculations of how the proposal might score against a current law baseline. The PAYGO baseline also excludes savings from reducing war spending.
Note: Numbers rounded to the nearest $5 billion and may not add due to rounding. Negative numbers reduce the deficit. Estimates by CRFB staff, utilizing OMB projections.
^ PAYGO baseline assumes continuation of current law, including inflation adjustments of the 2021 post-sequester discretionary levels, along with a drawdown in war spending as in the President’s budget.