The Budget and Economic Outlook: 2021 to 2031


If current laws governing taxes and spending generally remain unchanged, CBO projects, in 2021, the federal budget deficit will total $2.3 trillion, federal debt will reach 102 percent of GDP, and real GDP will grow by 3.7 percent.

Data and Supplemental Information

Baseline Projections for Education

Corrections and Updates

  • On February 16, 2021, CBO posted a file containing key long-term budget projections that extend the baseline budget projections presented in this report an additional 20 years.
  • On March 11, 2021, CBO reposted the file of 10-year budget projections to restore some missing data.
  • On April 21, 2021, CBO reposted the file of tax parameters and effective marginal tax rates to add a table. None of that new information affects any numbers shown in the report.