How CBO Estimated the Budgetary Impact of Key Prescription Drug Provisions in the 2022 Reconciliation Act
CBO describes how it estimated the budgetary impact of three key prescription drug provisions in the 2022 reconciliation act. In total, those provisions will reduce the federal deficit by $129 billion from 2022 through 2031, CBO estimates.
Presentation by Phillip Swagel, CBO’s Director, to the Committee for Economic Development of the Conference Board.
This interactive workbook allows users to see how revenues and outlays that differed from those in CBO’s February 2023 baseline budget projections would increase or decrease net interest costs and thus affect deficits and debt.
This slide deck provides additional information about CBO’s February 2023 baseline projections of capital gains realizations, which decrease from an estimated high of 8.7 percent of GDP in 2021 down to 3.7 percent of GDP by 2033.
- Blog Post
CBO Director Phillip Swagel discusses the current budget and economic outlook.
CBO projects that, if the debt limit is not raised or suspended, the government’s ability to issue additional debt—other than to replace maturing securities—will be exhausted between July and September 2023.
This slide deck provides additional information about CBO’s most recent projections of remittances from the Federal Reserve, which have decreased largely because of higher projected short-term interest rates in 2023 and 2024.
CBO Director Phillip Swagel briefs members of the press on the current budget and economic outlook.
In CBO’s projections, the federal deficit totals $1.4 trillion in 2023 and averages $2.0 trillion per year from 2024 to 2033. Real GDP growth comes to a halt in 2023 and then rebounds, averaging 2.4 percent from 2024 to 2027.
CBO reexamines the availability and use of the Department of Defense’s F-35 fighter aircraft and presents new findings on availability rates, flying hours, and effects of aging.