The Accuracy of CBO’s Baseline Estimates for Fiscal Year 2019

Report

In its 2018 projections for fiscal year 2019, CBO overestimated revenues and underestimated outlays by 0.8 percent and 0.1 percent, respectively. CBO’s projection of the federal budget deficit in 2019 was less than the actual amount by 0.1 percent of GDP.

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