Outlook for the Budget and the Economy
- Blog Post
Upcoming Presentations
CBO’s Director, Phillip Swagel, discusses his recent and upcoming presentations.
- 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.
- Presentation
The Effects of Recent Legislation on the Economy and the Budget
Presentation by Phillip Swagel, CBO’s Director, at the American Economic Association Annual Meeting.
- Report
CBO’s Economic Forecasting Record: 2021 Update
CBO assesses its two-year and five-year economic forecasts and compares them with forecasts of the Administration and the Blue Chip consensus, an average of about 50 private-sector forecasts.
- Report
Federal Debt and the Statutory Limit, November 2021
CBO projects that, if the debt limit remained unchanged and if the Treasury transferred $118 billion to the Highway Trust Fund on December 15, as currently planned, the Treasury would most likely run out of cash before the end of December.
- Report
Estimated Revenue Effects of Increased Funding for the Internal Revenue Service in H.R. 5376, the Build Back Better Act
CBO estimates that the funding for tax enforcement activities provided by H.R. 5376, the Build Back Better Act, would increase outlays by $80 billion and revenues by $207 billion, thus decreasing the deficit by $127 billion, through 2031.
- Report
CBO’s Projections of Federal Receipts and Expenditures in the National Income and Product Accounts: 2022 to 2031
This report presents CBO’s budget projections for 2022 to 2031 in the framework of the national income and product accounts, which differ in certain ways from revenues and outlays as shown in the federal budget.
- Presentation
CBO’s Budget and Economic Analysis During the Pandemic
Presentation by Phillip Swagel, CBO’s Director, to the Council for Affordable Health Coverage.
- Presentation
CBO’s Budget and Economic Analysis During the Pandemic
Presentation by Phillip Swagel, CBO’s Director, at Brown University.