Budget and Economic Outlook

  • Report February 10, 2014

    Questions for the Record from Chairman Ryan following Director Elmendorf's testimony on the Budget and Economic Outlook, February 5, 2014

  • Report February 5, 2014

    Testimony by Douglas W. Elmendorf, Director, before the Committee on the Budget, U.S. House of Representatives

  • Report February 4, 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.

  • Report February 4, 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.

  • Report December 20, 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?

  • Report November 20, 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.

  • Report September 26, 2013

    Testimony before the Committee on the Budget, U.S. House of Representatives

  • Report September 26, 2013

    During testimony on The 2013 Long-Term Budget Outlook, estimates were provided for the economic effects of eliminating automatic spending reductions in 2014. This letter corrects and clarifies those estimates.

  • Report September 25, 2013

    CBO projects that the Treasury will exhaust its well-established set of extraordinary measures—which allow for additional borrowing without breaching the debt limit—as well as its cash balance, between October 22 and the end of the month.

  • Report September 17, 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.