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August 1, 2007
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Economic Projections
Twice a year, CBO publishes 10-year forecasts of economic activity conditioned on the federal spending and taxes that will occur under current law. For the beginning years of that span, each forecast incorporates the effect of the business cycle; for the later years of the span, each forecast relies on long-term trends in the labor force, saving, and productivity. CBO also makes long-term budget projections.