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.
Economic Projections
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The Budget and Economic Outlook: Fiscal Years 2013 to 2023Feb 2013 - Under current law, federal debt will stay at historically high levels relative to the economy, CBO projects. Economic growth will be slow in 2013 but pick up thereafter. Even so, the unemployment rate will be above 7.5 percent through 2014.
Long-Term Budget OutlookJun 2012 - The explosive path of federal debt under the fiscal scenario that many budget analysts believe is more representative of fiscal policies that are now or have recently been in effect underscores the need for large policy changes to put the federal government on a sustainable course.
Economic Effects of Reducing the Fiscal Restraint That Is Scheduled to Occur in 2013May 2012 - Under current law, the federal budget deficit will fall dramatically between 2012 and 2013 owing to scheduled increases in taxes and, to a lesser extent, scheduled reductions in spending—a development that some observers have referred to as a “fiscal cliff.”
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Changes in Discretionary Funding During the Past Few Years
blog postMarch 26, 2013CBO Testifies on the Budget and Economic Outlook
blog postFebruary 15, 2013Testimony on the Budget and Economic Outlook: Fiscal Years 2013 to 2023
reportFebruary 13, 2013Testimony on the Budget and Economic Outlook: Fiscal Years 2013 to 2023
reportFebruary 12, 2013Economic Growth Is Likely to Be Slow in 2013 and Pick Up in Later Years
blog postFebruary 7, 2013The Budget and Economic Outlook: Fiscal Years 2013 to 2023
reportFebruary 5, 2013Macroeconomic Effects of Alternative Budgetary Paths
reportFebruary 5, 2013Baseline Economic Forecast—February 2013 Baseline Projections
data or technical informationFebruary 5, 2013
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