Outlook for the Budget and the Economy
- Interactive
Workbook for How Changes in Economic Conditions Might Affect the Federal Budget: 2022 to 2032
This workbook allows users to define and analyze alternative economic scenarios by specifying differences in the values of four economic variables from those underlying CBO's May 2022 projections.
- Report
Testimony on the Budget and Economic Outlook: 2022 to 2032
CBO Director Phillip Swagel testifies before the House Budget Committee.
- Presentation
An Overview of The Budget and Economic Outlook: 2022 to 2032
CBO Director Phillip Swagel briefs members of the press on The Budget and Economic Outlook: 2022 to 2032.
- Blog Post
Director’s Statement on The Budget and Economic Outlook: 2022 to 2032
CBO Director Phillip Swagel highlights the main findings of The Budget and Economic Outlook: 2022 to 2032.
- Report
The Budget and Economic Outlook: 2022 to 2032
In CBO’s projections, assuming that current laws generally remain unchanged, the federal deficit totals $1.0 trillion in fiscal year 2022 and averages $1.6 trillion per year from 2023 to 2032. Real GDP grows by 3.1 percent this year.
- Blog Post
CBO to Publish Budget and Economic Projections on May 25
CBO will publish The Budget and Economic Outlook: 2022 to 2032 at 2:00 p.m. EDT on Wednesday, May 25. A press briefing for credentialed members of the press will be held from 3:00 to 4:00 p.m. that day.
- Report
The Economic Effects of Waiting to Stabilize Federal Debt
CBO analyzes the economic effects of waiting to stabilize federal debt. The longer action is delayed, the larger the policy changes needed to stabilize debt. The timing and type of policy would determine its effects on different age and income groups.
- Blog Post
Update on the Timing of CBO’s Budget and Economic Projections
CBO anticipates publishing its budget and economic projections during the week of May 23 and releasing its analysis of the President’s budget request by early July.
- Report
Budgetary Effects of Higher Inflation and Interest Rates
In a letter to Senator Crapo, CBO responds to a request for a description of the budgetary effects of higher inflation and interest rates.
- Report
The Accuracy of CBO’s Budget Projections for Fiscal Year 2021
In its March 2020 projections for fiscal year 2021, CBO underestimated revenues by 15 percent and overestimated outlays by 4 percent. CBO’s projection of the federal budget deficit in 2021 was more than the actual amount by 3.9 percent of GDP.