Today the Congressional Budget Office (CBO) released its 10-year (2019-2028) baseline projection of the federal budget. The document is usually issued in January, but it was published late this year because the CBO wanted to incorporate the impacts of the following:
Tax Cuts and Jobs Act (enacted 22 December 2017) Bipartisan Budget Act of 2018 (enacted 9 February 2018) Consolidated Appropriations Act (enacted 23 March 2018)
The CBO typically issues these projections three times per year: January, March and August. They forecast the costs of existing federal programs, assuming that such policies stay in place for the duration of the baseline’s timeline. When new legislation such as the farm bill is proposed, t...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
