The 2023 Long-Term Budget Outlook


The U.S. faces a challenging fiscal outlook in the coming years, according to CBO's projections. Measured as a percentage of GDP, large and sustained deficits lead to high and rising federal debt that exceeds any previously recorded level.

Data and Supplemental Information

Corrections and Updates

On July 27, 2023, CBO reposted the file of data underlying the long-term budget projections to include information on the agency’s long-term projections of the Hospital Insurance Trust Fund.