View CBO’s budget infographics to see how much the federal government spent and took in during fiscal year 2024, as well as broader trends in the budget over the past few decades.
March 2025
CBO will publish The Long-Term Budget Outlook: 2025 to 2055 on Thursday, March 27, at 2 p.m. EDT.
To show how variations in economic conditions might affect its budget projections, CBO analyzed how revenues, outlays, and deficits might change if the values of key economic variables differed from those in the agency’s forecast.
Eric J. Labs, Senior Analyst for Naval Forces and Weapons in CBO’s National Security Division, testifies before the House Armed Services Committee's Subcommittee on Seapower and Projection Forces.
The federal budget deficit totaled $1.1 trillion in the first five months of fiscal year 2025, CBO estimates. That amount is $319 billion more than the deficit recorded during the same period last fiscal year.
CBO estimates that the effects on mandatory spending and revenues of laws enacted in the second session of the 118th Congress will increase outlays and decrease revenues from 2024 to 2034, which will increase the deficit by $237 billion.