Outlook for the Budget and the Economy
- Blog Post
Updating CBO’s Economic Forecast to Account for the Pandemic
As a result of the continued disruption of commerce stemming from the coronavirus pandemic, CBO expects the unemployment rate to exceed 10 percent as gross domestic product declines during the second quarter.
- Blog Post
Recent Changes in CBO’s Projections of Corporate Income Tax Revenues
CBO has reduced its projections of corporate income tax receipts for the 2020–2029 period by $127 billion (or about 4 percent). That change from the agency’s August 2019 projections arose from several sources.
- Blog Post
Director’s Statement on The Budget and Economic Outlook: 2020 to 2030
This afternoon I briefed the press about the Congressional Budget Office’s new report, The Budget and Economic Outlook: 2020 to 2030. It shows deficits that are slightly larger over the next 10 years and notably larger over the next 30 years than those that CBO previously projected.
- Blog Post
CBO to Release Budget and Economic Outlook on January 28
CBO will release its annual Budget and Economic Outlook at 2:00 p.m. ET on Tuesday, January 28. The report will include updated economic and budget projections spanning the period from 2020 to 2030.
- Blog Post
A Presentation on CBO’s Latest Budget and Economic Projections
In a presentation before the Treasury Borrowing Advisory Committee, CBO Director Phillip Swagel spoke about CBO’s latest 10-year budget and economic projections.
- Blog Post
Presentations on CBO’s Latest Budget and Economic Projections
CBO Director Phill Swagel spoke about the agency's latest 10-year budget and economic projections at an event hosted by the Center for Strategic Tax Reform and on a panel discussion at IHS Markit’s 2019 Economic Policy Summit. CBO's Director discussed many of the same issues last week in a presentation at PwC.
- Blog Post
Remarks to the Committee for a Responsible Federal Budget
Since I joined CBO four months ago, it has been a great treat for me to work with and learn from its skilled, knowledgeable, and dedicated people. Some of the issues at CBO have been new to me, but the budgetary challenge that the nation faces is all too familiar.
- Blog Post
CBO’s Updated Economic Forecast for the 2019–2029 Period
If current laws governing federal taxes and spending generally remained in place, the economy would expand by 2.3 percent this year and then grow at an average annual rate of 1.8 percent over the next decade, CBO projects.
- Blog Post
The Effects of Tariffs and Trade Barriers in CBO’s Projections
In CBO’s newly published economic projections, higher trade barriers—in particular, increases in tariff rates—implemented by the United States and its trading partners since January 2018 reduce the level of real (that is, inflation-adjusted) U.S. gross domestic product by roughly 0.3 percent by 2020.
- Blog Post
Director’s Statement on An Update to the Budget and Economic Outlook: 2019 to 2029
Today, CBO released An Update to the Budget and Economic Outlook: 2019 to 2029. In that report, we provide our latest projections of the federal budget and the U.S. economy under current law for this year and the decade that follows.