CBO's Budget and Economic Outlook—usually produced in January each year and updated in August—includes projections of spending and revenues under current law over the next 10 years as well as an economic forecast for that period. CBO also typically prepares an update of its budget projections in March each year in conjunction with its analysis of the President's budgetary proposals. Those projections under current law provide the Congress with a benchmark against which to measure the effects of proposed changes in spending and tax laws.
Budget and Economic Outlook
Feb 2014 - Under current law, deficits will drop through 2015 but rise thereafter, boosting the already high federal debt, CBO projects. Economic growth will be solid in the near term, but unemployment will not drop below 6.0 percent until 2017.
Feb 2014 - Since the recession ended in June 2009, employment has risen sluggishly and the unemployment rate has fallen only partway back to its prerecession level. This CBO report discusses the reasons for the slow recovery of the labor market.
Dec 2013 - Federal debt is projected to rise significantly over the long term. What policy changes could reduce future deficits and thus lower the trajectory of federal debt? What criteria might be used to evaluate those policy changes?
Nov 2013 - CBO projects that DoD’s plans will cost 3.5 percent more to execute through 2018 than DoD estimates. Moreover, the costs of DoD’s plans for 2014 through 2021 would greatly exceed the limits established by the Budget Control Act.
Sep 2013 - Federal debt would grow to 100 percent of GDP by 2038 under current law, CBO projects, and would be on an upward path relative to the size of the economy—a trend that could not be sustained indefinitely.
- blog postMarch 4, 2014
- reportFebruary 28, 2014
The Long-Run Effects of Federal Budget Deficits on National Saving and Private Domestic Investment: Working Paper 2014-02working paperFebruary 28, 2014
- blog postFebruary 27, 2014
Economic Growth Is Projected to Be Solid in the Near Term, but Weakness in the Labor Market Will Probably Persistblog postFebruary 26, 2014
Federal Revenues Are Projected to Increase Significantly Over the Next Two Years and Remain Steady as a Share of GDP Thereafterblog postFebruary 25, 2014
- blog postFebruary 24, 2014
- presentationFebruary 24, 2014
Use this menu to filter CBO's publications by topic. From January 2011 forward, all the agency's products are categorized by topic. Cost estimates released prior to the 112th Congress are not categorized by topic.