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.