Budget
- Report
Testimony on the Budget and Economic Outlook: 2022 to 2032
CBO Director Phillip Swagel testifies before the House Budget Committee.
- Presentation
An Overview of The Budget and Economic Outlook: 2022 to 2032
CBO Director Phillip Swagel briefs members of the press on The Budget and Economic Outlook: 2022 to 2032.
- Blog Post
Director’s Statement on The Budget and Economic Outlook: 2022 to 2032
CBO Director Phillip Swagel highlights the main findings of The Budget and Economic Outlook: 2022 to 2032.
- Report
The Budget and Economic Outlook: 2022 to 2032
In CBO’s projections, assuming that current laws generally remain unchanged, the federal deficit totals $1.0 trillion in fiscal year 2022 and averages $1.6 trillion per year from 2023 to 2032. Real GDP grows by 3.1 percent this year.
- Blog Post
CBO Releases an Improved Interactive Tool for Analyzing the Military’s Forces and Resources
The enhanced tool lets users change the defense budget to see the possible effects on military forces, or add or subtract major units to see the effects on the budget, or explore a mix of those approaches. It includes a how-to-use tutorial.
- Report
Budgetary Effects of a Policy That Would Lower the Age of Eligibility for Medicare to 60
CBO and the staff of the Joint Committee on Taxation estimate that lowering the age of Medicare eligibility to 60 would increase federal budget deficits, change primary sources of health insurance, and increase the number of people insured.
- Report
Answer to a Question for the Record Following a Hearing on CBO’s Appropriation Request for Fiscal Year 2023
The Subcommittee on the Legislative Branch of the House Committee on Appropriations convened a hearing at which Phillip L. Swagel, CBO’s Director, testified. This document provides CBO’s answer to a question submitted for the record.
- Report
Report on the Troubled Asset Relief Program—May 2022
Lawmakers created the Troubled Asset Relief Program (TARP) in 2008 to stabilize financial markets. The TARP’s net cost will be $31 billion, CBO estimates—about what it reported in July 2021 and slightly less than OMB’s latest estimate.
- Blog Post
CBO to Publish Budget and Economic Projections on May 25
CBO will publish The Budget and Economic Outlook: 2022 to 2032 at 2:00 p.m. EDT on Wednesday, May 25. A press briefing for credentialed members of the press will be held from 3:00 to 4:00 p.m. that day.
- Report
Monthly Budget Review: April 2022
The federal budget deficit was $360 billion in the first seven months of fiscal year 2022, CBO estimates. That amount is about one-fifth of the $1.9 trillion shortfall recorded during the same period in 2021.