Outlook for the Budget and the Economy
- Presentation
The Budget and Economic Outlook for 2023 to 2033 in 9 Slides
CBO Director Phillip Swagel briefs members of the press on the current budget and economic outlook.
- Report
The Budget and Economic Outlook: 2023 to 2033
In CBO’s projections, the federal deficit totals $1.4 trillion in 2023 and averages $2.0 trillion per year from 2024 to 2033. Real GDP growth comes to a halt in 2023 and then rebounds, averaging 2.4 percent from 2024 to 2027.
- Blog Post
CBO to Release Updated Budget and Economic Projections on February 15
CBO will release "The Budget and Economic Outlook: 2023 to 2033" and "Federal Debt and the Statutory Limit, February 2023," at 2 p.m. EST on February 15.
- Report
The Accuracy of CBO’s Budget Projections for Fiscal Year 2022
In its July 2021 projections for fiscal year 2022, CBO underestimated revenues by 10 percent and outlays by 5 percent. CBO’s projection of the federal budget deficit for 2022 was more than the actual amount by 0.8 percent of GDP.
- Report
CBO’s Current View of the Economy in 2023 and 2024 and the Budgetary Implications
CBO describes its current view of the economy over the next two years, compares that view with projections of other forecasters and with those that CBO made previously, and explains the implications for the federal budget.
- Report
Questions About CBO’s Current View of the Economy in 2023 and 2024 and the Implications for Households and the Federal Budget
CBO responds to questions about its current view of the economy over the next two years, how that compares with CBO's most recent projections and with those of the Federal Reserve, and the implications for households and the federal budget.
- Report
Army Corps of Engineers: Budgetary History and Projections
CBO examines trends in funding and spending for the Army Corps of Engineers and explains how CBO treats that agency’s activities in its baseline and cost estimates.
- Report
FEMA’s Disaster Relief Fund: Budgetary History and Projections
CBO examines trends in funding and spending for the Federal Emergency Management Agency's Disaster Relief Fund and provides information about how CBO treats that program in its baseline and cost estimates.
- Report
Automatic Stabilizers in the Federal Budget: 2022 to 2032
CBO projects the budgetary effects of automatic stabilizers—as well as the size of deficits without them—from 2022 to 2032 and provides historical estimates of the stabilizers’ effects since 1972.
- Report
CBO’s Projections of Federal Receipts and Expenditures as Measured by the National Income and Product Accounts: 2022 to 2032
This report presents CBO’s revenue and outlay projections for 2022 to 2032 translated to the receipts and expenditures used in the national income and product accounts framework.