CBO Blog

CBO's Director, Phillip Swagel, discusses his most recent and upcoming presentations about the projections in CBO’s report, "The Budget and Economic Outlook: 2024 to 2034."

CBO’s Director, Phillip Swagel, testifies before the House Budget Committee.

CBO’s Director, Phillip Swagel, discusses the current budget and economic outlook.

In CBO’s projections, federal budget deficits total $20 trillion over the 2025–2034 period and federal debt held by the public reaches 116 percent of GDP. Economic growth slows to 1.5 percent in 2024 and then continues at a moderate pace.

Chapin White, CBO's Director of Health Analysis, testifies before the House Energy and Commerce Committee's Subcommittee on Health.

CBO Director Phillip Swagel testifies before the House Committee on the Budget.

CBO will release "The Budget and Economic Outlook: 2024 to 2034" at 2 p.m. EST on February 7.

In CBO’s projections, the U.S. population increases from 342 million people in 2024 to 383 million people in 2054. Net immigration increasingly drives population growth, accounting for all population growth beginning in 2040.

Learn more about CBO, its work, and its processes in an introduction to the agency that is typically updated at the start of each Congress or a new session.

CBO reports annually on programs whose authorizations of appropriations have already expired or will expire. This data file covers legislation enacted through September 30, 2023. A full report will be issued later this year.