Outlook for the Budget and the Economy
- Blog Post
A Presentation on CBO’s Latest Budget and Economic Projections
CBO Director Phillip Swagel spoke about the agency’s latest 10-year budget and economic projections at an event hosted by the Concord Coalition.
- Cost Estimate
Reconciliation Recommendations of the House Committee on Transportation and Infrastructure
As ordered reported on February 10, 2021
- Report
The Budget and Economic Outlook: 2021 to 2031
If current laws governing taxes and spending generally remain unchanged, CBO projects, in 2021, the federal budget deficit will total $2.3 trillion, federal debt will reach 102 percent of GDP, and real GDP will grow by 3.7 percent.
- Blog Post
CBO to Issue New Budget Projections on February 11
CBO will release The Budget and Economic Outlook: 2021 to 2031 at 2 p.m. on Thursday, February 11. The report will include a brief description of CBO’s latest 10-year budget projections and reprise the economic projections issued this week.
- Blog Post
CBO to Issue New Economic Projections on February 1
CBO will release An Overview of the Economic Outlook: 2021 to 2031 at 11 a.m. on Monday, February 1. The report will include a brief description of CBO’s latest 10-year economic projections.
- Report
Answers to Questions for the Record Following a Hearing on CBO’s Budget Projections Conducted by the Subcommittee on Fiscal Responsibility and Economic Growth of the Senate Committee on Finance
The Subcommittee on Fiscal Responsibility and Economic Growth of the Senate Committee on Finance convened a hearing at which Director Phillip Swagel testified. This document provides CBO’s answers to questions submitted for the record.
- Report
Answers to Questions for the Record Following a Hearing Conducted by the Senate Committee on the Budget on CBO’s Budget Projections
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.
- Report
Federal Net Interest Costs: A Primer
CBO describes federal net interest outlays and their projected growth over the coming decade.
- Report
The Accuracy of CBO’s Budget Projections for Fiscal Year 2020
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.
- Working Paper
Key Methods That CBO Used to Estimate the Effects of Pandemic-Related Legislation on Output: Working Paper 2020-07
This paper describes key methods that the Congressional Budget Office used to estimate the effects on economic output of the laws enacted in response to the 2020 coronavirus pandemic.