An Update to the Budget and Economic Outlook: 2019 to 2029

Report

In CBO’s projections, federal budget deficits remain large by historical standards, and federal debt grows to equal 95 percent of GDP by 2029. Economic growth is expected to slow from 2.3 percent in 2019 to a rate that is below its long-run historical average.

Data and Supplemental Information

Corrections and Updates

On August 21, 2019, CBO reposted the file of 10-year economic projections to correct a date that it mentions in footnotes. On August 22, 2019, CBO reposted the report to correct language in Appendixes A and B. On August 23, 2019, CBO reposted the file of 10-year budget projections to correct a typographical error. On August 29, 2019, CBO posted the file of tax parameters and reposted the file of revenue projections to include additional data.