Updated Budget Projections: 2015 to 2025


Under current law, CBO estimates the deficit will total 2.7 percent of GDP in 2015, drop to roughly 2.4 percent for the following three years, and then begin to rise. By 2025, debt held by the public is projected to reach 77 percent of GDP.

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Subsequent projections appear in Budget and Economic Outlook and Updates.

Baseline Projections for Education

Corrections and Updates

On March 10, 2015, CBO reposted this report; the updated version includes minor corrections in Table 3, to projections for 2019 through 2023.