Should you be worried that federal government budget numbers and the national income and product accounts (NIPAs) numbers for fiscal years 2022–2023 don’t match? For example, current receipts in the NIPAs exceed projected revenues in the Congressional Budget Office’s (CBO) baseline by about 5%. According to the CBO, that’s due to “conceptual differences.” The annual federal budget generally is used by federal agencies and Congress to allocate government resources. In contrast, the NIPAs provide a general framework that describes the entire U.S. economy and shows how the federal government fits within that framework. For more on how and why the numbers diverge: https://bit.ly/3KBB5Pp
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