In fiscal year 2025, which ended on September 30, the federal budget deficit totaled $1.8 trillion—a decrease of $41 billion (or 2 percent) from the shortfall recorded in the previous year.
CBO Blog
Aditi Sen, Chief of CBO's Health Policy Studies Unit, testifies before the Senate Committee on Health, Education, Labor, and Pensions.
In this report, the latest in a quarterly series, CBO highlights its recent publications and summarizes its work in progress.
The federal budget deficit was $1.8 trillion in fiscal year 2025, CBO estimates, $8 billion less than the shortfall recorded during fiscal year 2024.
In the event of a government shutdown, CBO has been instructed by the House and Senate Budget Committees to continue providing support to meet the most immediate needs of the Congress in carrying out its constitutional functions.
CBO describes the process of drafting data use agreements, the agreements that it has with other federal agencies, and the successes and challenges that it has experienced in accessing data over the past twelve months.
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CBO's Director, Phillip Swagel, highlights his recent speaking engagements and the topics he discussed.
CBO provides details about its latest economic projections through 2028, which reflect several substantial changes in federal policy and economic developments that have occurred this year.
CBO projects that the U.S. population will increase from 350 million people in 2025 to 367 million people in 2055. It will be smaller and grow more slowly over the next 30 years, on average, than the agency previously projected it would.
The federal budget deficit totaled $2.0 trillion in the first 11 months of fiscal year 2025, CBO estimates. That amount is $92 billion more than the deficit recorded during the same period last fiscal year.