Budget
- Report
CBO’s 2023 Long-Term Projections for Social Security
In CBO’s projections, spending for Social Security increases relative to GDP over the next 75 years, and the gap between outlays and revenues widens. If combined, the program’s trust funds would be exhausted in fiscal year 2033.
- Report
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.
- Report
CBO’s Macroeconomic Analysis of Legislation, Health Care Modeling, and Support for the Legislative Process
In response to a request from Chairman Arrington, CBO provides information about the agency’s ongoing work in macroeconomic analysis of legislation, health care modeling, and support for the legislative process.
- Report
CBO’s Work Related to Climate Change and Health Care Delivery Systems
In response to a request from Chairman Whitehouse, CBO provides information about its efforts to assess risks posed by climate change and to examine the effects that reforms to health care delivery systems have on costs and health outcomes.
- Blog Post
CBO Issues Schedule for Release of Long-Term Budget Projections and Economic Update
CBO will release its long-term budget projections on June 28 and an update to its economic forecast for the next three years on July 31.
- Report
How the Fiscal Responsibility Act of 2023 Affects CBO’s Projections of Federal Debt
Deficit reductions under the Fiscal Responsibility Act of 2023 reduce projected federal debt in 2033 by about 3 percent, from $46.7 trillion (or 119 percent of gross domestic product, or GDP) to $45.2 trillion (or 115 percent of GDP).
- Report
Monthly Budget Review: May 2023
The federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2023, CBO estimates—$735 billion more than the shortfall recorded during the same period last year.
- Report
Automatic Stabilizers in the Federal Budget: 2023 to 2033
CBO projects the budgetary effects of automatic stabilizers—as well as the size of deficits without them—from 2023 to 2033 and provides historical estimates of the stabilizers’ effects since 1973.
- Presentation
CBO’s Role in the Federal Budget Process and Its Work Assessing Climate Change and Related Policies
Presentation by Nicholas Chase, CBO's Energy, Climate, and Environment Unit Chief, to the American Meteorological Society’s Summer Policy Colloquium.
- Blog Post
Presentations
CBO Director Phillip Swagel discusses his recent and upcoming presentations on CBO’s latest budget projections and fiscal outlook.