The U.S. Air Force (USAF) will move to decommission 17 of its 62 B-1B Lancer bombers to pave the way for fleet modernization efforts and help maintainers focus more on each of the remaining 45 aircraft. USAF said it will keep four of the B-1B planes that are set for retirement in Type 2000 storage to maintain aircraft systems in a reclaimable condition.
Read More »CBO: Lowest-Cost Architectures for National Cruise Missile Defense Would Cost Up to $180B Over 20 Years
A new Congressional Budget Office (CBO) report says countries with large militaries, nonstate groups and other adversaries could use land-attack cruise missiles (LACM) to launch attacks against the U.S. and lowest-cost architectures composed of fighter jets, surface-to-air missiles and radars for homeland cruise missile defense would cost approximately $75 billion to $180 billion over two decades to purchase and operate.
Read More »CBO Examines Decline in Entrepreneurship Since Early 1980’s
A new Congressional Budget Office (CBO) report says the rate at which new companies formed or entered the market dropped from 10 percent in 1982 to 8 percent in 2018. CBO said in the report published Tuesday that new firms operating for less than five years accounted for 29 percent of all businesses in 2018.
Read More »CBO: Pandemic Pushes US Budget Deficit to $3T in Fiscal 2020
The federal budget deficit for the 2020 fiscal year ended on Sept. 30th reached $3.1 trillion, more than three times higher than the prior-year period’s shortfall, according to a new Congressional Budget Office (CBO) report. According to CBO, receipts from payroll taxes, the second largest source of revenues, saw a five percent increase.
Read More »CBO: Navy’s Future FFG(X) Fleet Would Cost $12.3B in 2020
A new Congressional Budget Office (CBO) report says that the cost of the U.S. Navy’s future fleet of 10 FFG(X) frigates could total $12.3 billion or $1.2 billion per ship in 2020. That amount represents a 40 percent increase from the service branch’s estimate of $8.7 billion or $870 million per ship.
Read More »CBO: Nuclear Forces Expansion in Response to New START Pact’s Expiration Could Cost DoD Up to $439B
A new Congressional Budget Office (CBO) report says the Department of Defense (DoD) could incur $410 billion to $439 billion in onetime costs if the U.S. government decides to expand its strategic nuclear forces to the START I treaty levels in response to the expiration of the new Strategic Arms Reduction Treaty with Russia.
Read More »CBO: Increasing IRS Funds Would Cut Federal Deficit by $63B Over Next Decade
A Congressional Budget Office (CBO) report has found that increasing the Internal Revenue Service’s (IRS) funding by $40 billion over the next decade could lead to a $63 billion decrease in deficit, Government Executive reported Thursday.
Read More »CBO Estimates Costs of Smaller, Larger Versions of Space National Guard
A new Congressional Budget Office report says the creation of a Space National Guard with approximately 1,500 personnel to support the U.S. Space Force would result in approximately $100 million in additional operations and support costs per year.
Read More »CBO Projects Nearly $8T Loss in Real Economic Output Due to COVID-19
The Congressional Budget Office (CBO) said the U.S. is likely to see through fiscal year 2030 a reduction of approximately $7.9 trillion in nominal gross domestic product adjusted for inflation due to the coronavirus pandemic, CNBC reported Monday.
Read More »CBO: Naval Aviation Fleet Replacement Would Cost $380B Through 2050
The Congressional Budget Office predicts that the Department of the Navy would spend around $380 billion for new aircraft over the next 30 years.
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