What is the role of the congressional budget office (cbo) in the federal budgetary process?

CBO assists the budget committees by providing informal estimates of the budgetary impact of various legislative proposals that the committees might want to allow for in the budget resolution; the budget committees may use those estimates as a guide in setting the spending and revenue targets for the budget as a whole and for individual committees. Although the budget committees’ reports provide some information about what policies they envision, the budget resolution itself does not specify those policies.

CBO does not analyze or prepare estimates of budget resolutions because they are targets for the Congress and its committees and do not contain legislative language for specific proposals whose budgetary effect we could estimate. Thus, CBO makes no assessment of the budget deficits or the amounts of spending and revenues that would result from any budget resolution approved by either of the budget committees.

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a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.