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- Report
CBO examines the falloff in entrepreneurship, its potential economic consequences, factors that have contributed to it, and ways that federal policies could be changed to reverse the trend.
- Report
The Senate Budget Committee convened a hearing at which Director Phillip Swagel testified about the 2020 Long-Term Budget Outlook. This document provides CBO’s answers to questions submitted for the record by four Members of the Committee.
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In lieu of publishing a separate report providing additional information about CBO’s long-term projections for Social Security, the agency is publishing the data that it would have presented in that report.
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CBO describes federal net interest outlays and their projected growth over the coming decade.
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In its 2019 projections for fiscal year 2020, CBO underestimated revenues by 9 percent and outlays by 3 percent. CBO’s projection of the federal budget deficit in 2020 was more than the actual amount by 0.5 percent of GDP.
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In this letter, CBO provides more information about its cost estimate for H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act.
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CBO periodically issues a compendium of policy options and their effects on the federal budget. This document provides estimates of the budgetary savings from 83 options that would decrease federal spending or increase federal revenues.
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The federal budget deficit totaled $430 billion in October and November 2020, the first two months of fiscal year 2021, the Congressional Budget Office estimates.
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Between 1995 and 2017, the balance of outstanding federal student loan debt increased from $187 billion to $1.4 trillion (in 2017 dollars). CBO examines factors that contributed to that growth, including changes to student loan policies and how they affected borrowing and repayment.
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In fiscal year 2020, the federal budget deficit totaled $3.1 trillion—more than triple the shortfall recorded in fiscal year 2019. The deficit in 2020 was equal to 14.9 percent of GDP, up from 4.6 percent in 2019 and 3.8 percent in 2018.