The Senate Committee on the Budget will hold two hearings during the week of February 11. The first will be on February 12 at 10:30 am, when the committee will hold a hearing on the Budget and Economic Outlook report from the Congressional Budget Office (CBO). CBO Director Douglas Elmendorf will be the sole witness at the hearing. In the report, released February 5, CBO projects that economic growth will remain slow in the coming year and that unemployment will remain over 7.5%. CBO projects the economy will pick up in 2014, with unemployment rates declining and interest rates rising. CBO says that while the nation’s debt would decrease in 2013 under current law, in future years, debt will continue to remain high because of rising costs related to “aging population, rising health care costs, an expansion of federal subsidies for health insurance, and growing interest payments on federal debt.” The second hearing, “Impact of Budget Decisions on Families and Communities,” will be held on February 13 at 10:30 am. Members of the public, including low and middle income families, will testify at the hearing. Both hearings will be held in room 608 of the Dirksen Senate office building. The House Committee on the Budget rescheduled its hearing, “CBO’s Budget and Economic Outlook,” for February 13 at 10 am in room 210 of the Cannon House office building. Click here to view the CBO report.