Outlook for the Budget and the Economy
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Federal Mandatory Spending for Means-Tested Programs, 2009 to 2029
Under current law, outlays for federal mandatory means-tested programs would grow over the next decade at an average annual rate of 4 percent, whereas spending for mandatory non–means-tested programs would grow at an average rate of almost 6 percent, CBO projects.
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Fair-Value Estimates of the Cost of Federal Credit Programs in 2020
Using FCRA procedures, CBO estimates that new loans and loan guarantees issued in 2020 would result in savings of $31 billion. But using fair-value procedures, CBO estimates that they would have a lifetime cost of $36.5 billion.
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Updated Budget Projections: 2019 to 2029
CBO projects a deficit of $896 billion for 2019—$1 billion less than the deficit it projected in January. Federal debt held by the public is projected to grow from 78 percent of gross domestic product in 2019 to 92 percent in 2029.
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Answers to Questions for the Record Following a Hearing on The Budget and Economic Outlook: 2019 to 2029 Conducted by the Senate Committee on the Budget
The Senate Budget Committee convened a hearing at which Director Keith Hall testified about The Budget and Economic Outlook: 2019 to 2029. This document provides CBO’s answers to questions submitted for the record by members of the Committee.
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Answers to Questions for the Record Following a Hearing Conducted by the House Committee on the Budget on The Budget and Economic Outlook: 2019 to 2029
The House Budget Committee convened a hearing at which Director Keith Hall testified about The Budget and Economic Outlook: 2019 to 2029. This document provides CBO’s answers to questions submitted for the record by Congressman Roy and Congresswoman Schakowsky.
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Federal Debt and the Statutory Limit, February 2019
CBO projects that if the debt limit is not raised or suspended again after it is automatically reset on March 2, the Treasury will probably run out of cash near the end of fiscal year 2019 or early in fiscal year 2020.
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Testimony on CBO’s Budget and Economic Outlook: 2019 to 2029
CBO Director Keith Hall testifies about The Budget and Economic Outlook: 2019 to 2029 before the House Budget Committee.
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Testimony on CBO’s Budget and Economic Outlook: 2019 to 2029
CBO Director Keith Hall testifies about The Budget and Economic Outlook: 2019 to 2029 before the Senate Budget Committee.
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The Budget and Economic Outlook: 2019 to 2029
In CBO’s projections, deficits remain large by historical standards, and federal debt grows to equal 93 percent of GDP by 2029. As the effects of fiscal stimulus wane, projected economic growth falls back below the historical average.
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The Effects of the Partial Shutdown Ending in January 2019
CBO estimates that the partial shutdown delayed $18 billion in federal spending and suspended some federal services, thus lowering the projected level of real GDP in the first quarter of 2019 by $8 billion (in 2019 dollars), or 0.2 percent.