Outlook for the Budget and the Economy
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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.
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Estimates of the Cost of Federal Credit Programs in 2022
CBO estimates the costs of federal credit programs in two ways—following procedures prescribed by the Federal Credit Reform Act (FCRA) and using a fair-value approach, which measures the market value of the government’s obligations.
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Federal Debt and the Statutory Limit, September 2021
CBO projects that, if the debt limit remains unchanged, the Treasury’s ability to borrow using extraordinary measures will be exhausted, and it will most likely run out of cash near the end of October or the beginning of November.
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Additional Information About the Updated Budget and Economic Outlook: 2021 to 2031
CBO provides additional detail about its latest baseline projections, which were published on July 1, 2021. The projected deficit for 2021 is $3.0 trillion, $126 billion less than the deficit recorded last year.
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Federal Debt and the Statutory Limit, July 2021
CBO projects that if the debt limit is not raised, the Treasury would probably run out of cash and be unable to make its usual payments starting sometime in the first quarter of the next fiscal year, most likely in October or November.
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An Update to the Budget and Economic Outlook: 2021 to 2031
If current laws generally remain unchanged, the federal budget deficit will total $3.0 trillion and federal debt will reach 103 percent of GDP in fiscal year 2021, CBO estimates, and real GDP will grow by 7.4 percent in calendar year 2021.
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Three Scenarios for the Budget as Specified by Senator Graham
Senator Graham asked how recently enacted legislation and certain amounts of additional spending would change the budget projections that CBO released on February 11, 2021. This letter details those changes.
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Additional Information About the Budget Outlook: 2021 to 2031
This document provides additional information about the baseline budget projections that CBO released on February 11, 2021.
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The 2021 Long-Term Budget Outlook
CBO presents its projections of the federal budget for the next 30 years if current laws governing taxes and spending generally did not change. Growth in revenues would be outpaced by growth in spending, leading to rising deficits and debt.
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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.