Outlook for the Budget and the Economy
The Economy and the Budget
Presentation by Phillip Swagel, CBO’s Director, to the Prosperity Caucus.
The Budget, the Economy, and the Budgetary Effects of Legislative Changes
A briefing by Phillip Swagel, CBO’s Director, for the U.S. House of Representatives.
A Presentation on The Budget and Economic Outlook: 2023 to 2033
Presentation by Phillip Swagel, CBO’s Director, to the Committee for Economic Development of the Conference Board.
- Blog Post
Director’s Statement on the Budget and Economic Outlook for 2023 to 2033
CBO Director Phillip Swagel discusses the current budget and economic outlook.
Federal Debt and the Statutory Limit, February 2023
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.
The Budget and Economic Outlook for 2023 to 2033 in 9 Slides
CBO Director Phillip Swagel briefs members of the press on the current budget and economic outlook.
The Budget and Economic Outlook: 2023 to 2033
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.
- Blog Post
CBO to Release Updated Budget and Economic Projections on February 15
CBO will release "The Budget and Economic Outlook: 2023 to 2033" and "Federal Debt and the Statutory Limit, February 2023," at 2 p.m. EST on February 15.
The Accuracy of CBO’s Budget Projections for Fiscal Year 2022
In its July 2021 projections for fiscal year 2022, CBO underestimated revenues by 10 percent and outlays by 5 percent. CBO’s projection of the federal budget deficit for 2022 was more than the actual amount by 0.8 percent of GDP.
Automatic Stabilizers in the Federal Budget: 2022 to 2032
CBO projects the budgetary effects of automatic stabilizers—as well as the size of deficits without them—from 2022 to 2032 and provides historical estimates of the stabilizers’ effects since 1972.