CBO Director Phillip Swagel discusses his upcoming presentations on CBO’s latest long-term budget projections and demographic outlook.
The U.S. faces a challenging fiscal outlook according to CBO's extended baseline projections, which show budget deficits and federal debt held by the public growing steadily in relation to gross domestic product over the next three decades.
CBO created a new web page making its distributional analyses accessible in one place.
In this report, the latest in a quarterly series, CBO highlights its recent work and summarizes its work in progress.
The federal budget deficit was $514 billion in the first nine months of fiscal year 2022, CBO estimates. That amount is less than one-quarter of the $2.2 trillion shortfall recorded during the same period in 2021.
CBO examines how the discretionary spending proposals in the President's 2023 budget compare with CBO’s most recent baseline budget projections, which span 2022 to 2032.