June 14, 2012
Twice a year, CBO publishes 10-year forecasts of economic activity conditioned on the federal spending and taxes that will occur under current law. For the beginning years of that span, each forecast incorporates the effect of the business cycle; for the later years of the span, each forecast relies on long-term trends in the labor force, saving, and productivity. CBO also makes long-term budget projections.
Feb 2014 - Under current law, deficits will drop through 2015 but rise thereafter, boosting the already high federal debt, CBO projects. Economic growth will be solid in the near term, but unemployment will not drop below 6.0 percent until 2017.
- June 05, 2012