September 2023

CBO describes how it will operate if there is a government shutdown.

In 2023, federal subsidies for health insurance are estimated to be $1.8 trillion, or 7.0 percent of gross domestic product (GDP). In CBO and JCT’s projections, those net subsidies reach $3.3 trillion, or 8.3 percent of GDP, in 2033.

CBO estimates that the Center for Medicare & Medicaid Innovation’s (CMMI’s) activities increased federal spending between 2011 and 2020 and will also increase it from 2021 to 2030. In 2010, CBO projected that CMMI would produce savings.

CBO examines the variation in current and future flood risk across communities with different economic and demographic characteristics.

The federal budget deficit was $1.5 trillion in the first 11 months of fiscal year 2023, CBO estimates—$0.6 trillion more than the shortfall recorded during the same period last year.

CBO Director Phillip Swagel discusses his most recent presentations on the U.S. economic and fiscal outlook.

This report presents CBO’s projections of revenues and outlays for the 2023–2033 period translated into the framework of the national income and product accounts and their categories of current receipts and expenditures.