Outlook for the Budget and the Economy
- Report
The Budget and Economic Outlook: 2014 to 2024
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.
- Report
The Slow Recovery of the Labor Market
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.
- Report
Choices for Deficit Reduction: An Update
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?
- Data and Technical Information
Effect of the Automatic Spending Reductions in CBO's May 2013 Baseline
Effect of the Automatic Spending Reductions
- Presentation
Overview of the Federal Budget
Presentation by Jeff Holland, Chief, Projections Unit, at the National Conference of State Legislatures
- Report
Federal Debt and the Statutory Limit, November 2013
Under current law, after February 7, 2014, the Treasury would have no room to borrow and would need to use its so-called extraordinary measures—which could be exhausted as early as March but might last until May or early June.
- Blog Post
Meeting with the Budget Conference Committee
Director Doug Elmendorf met with the budget conference committee to review the economic and budget outlook and to answer questions from the conferees.
- Presentation
Presentation to the Budget Conference Committee
Presentation by Doug Elmendorf, Director, to the Budget Conference Committee Led by Chairman Paul Ryan of the House Budget Committee and Chairman Patty Murray of the Senate Budget Committee
- Blog Post
How the Actual Federal Budget Results for 2013 Compared With CBO’s May 2013 Estimates
On October 30, the Treasury Department reported that the federal budget deficit for fiscal year 2013 totaled $680 billion, $38 billion more than CBO estimated in its most recent baseline in May.
- Graphic
Snapshot of Corporate Income Tax Receipts
Since 2008, corporate income tax receipts have been smaller, relative to the size of the economy, than their historical average of 1.9 percent of GDP—largely because the recent recession substantially reduced taxable corporate profits.