Outlook for the Budget and the Economy
- 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
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.
- Report
Economic Analysis of Budget Reconciliation Legislation
CBO provides answers to four questions that Senator Lindsey Graham asked related to H.R. 5376, the Inflation Reduction Act of 2022, and broader economic conditions.
- Report
The 2022 Long-Term Budget Outlook
The U.S. faces a challenging fiscal outlook according to CBO's extended baseline projections, which show budget deficits and federal debt held by the public growing steadily in relation to gross domestic product over the next three decades.
- Report
Answers to Questions for the Record Following a Hearing on The Budget and Economic Outlook: 2022 to 2032
The House Committee on the Budget convened a hearing at which Phillip L. Swagel, CBO's Director, testified. This document provides CBO’s answers to questions submitted for the record.
- Report
The Cost of Eight Executive Actions Taken by the Biden Administration
CBO responds to Congressman Jason Smith’s request to provide information about the cost of eight executive actions taken by the Biden Administration and how they are reflected in CBO’s baseline projections.
- Presentation
Budget and Economic Projections
Presentation by Phillip Swagel, CBO’s Director, at the Committee for Economic Development’s Policy Conference.
- Presentation
The Budget and Economic Outlook: 2022 to 2032
Presentation by Christina Hawley Anthony, Robert Arnold, and Joshua Shakin, CBO Unit Chiefs, at a joint seminar by CBO and the Congressional Research Service.
- Presentation
The Budget Outlook for 2022 to 2032 in 8 Slides
This slide deck highlights some key findings about the budget outlook from CBO’s recent report The Budget and Economic Outlook: 2022 to 2032.