These slides summarize CBO’s budget projections as presented in The 2018 Long-Term Budget Outlook.
- Blog Post
In June, CBO released The 2018 Long-Term Budget Outlook, describing the agency’s projections of federal spending, revenues, deficits, and debt over the next 30 years. This post presents some of the key takeaways from that report.
Presentation by Theresa Gullo, Assistant Director for Budget Analysis, and John McClelland, Assistant Director for Tax Analysis, at a joint seminar by CBO and the Congressional Research Service for Congressional staff.
- Blog Post
Formal cost estimates are among the many products CBO provides to policymakers and analysts to help them assess the effects of differing policies on budgetary outcomes.
- Cost Estimate
Conference Agreement for H.R. 5895, Energy and Water, Legislative Branch, and Military Construction and Veterans Affairs Appropriation Act, 2019
As included in H.Rpt. 115-929
The Congress uses CBO’s cost estimates to help it implement rules and procedures related to budget enforcement. Those rules and CBO’s estimates recognize the differences among the three primary components of the federal budget.
The federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, CBO estimates, $222 billion more than the shortfall recorded during the same period last year.
In lieu of publishing a separate report providing additional information on the agency’s long-term projections for Social Security, CBO is publishing the data that it would have presented in that report.
What changes in federal budget deficits would be necessary to reduce debt held by the public over the long term? CBO analyzed the primary deficit reductions necessary to meet three different debt targets in four different time frames.