Budget

CBO's regular budget publications include semiannual reports on the budget and economic outlook, annual reports on the President's budget and the long-term budget picture, and a biannual set of options for reducing budget deficits. CBO also prepares cost estimates and mandate statements for nearly all bills that are reported by Congressional committees. Numerous analytic studies provide more in-depth analysis of specific budgetary issues.

BUDGET PROJECTIONS FOR FY 2022

(As of )

OUTLAYS

$5.9 Trillion

REVENUES

$4.8 Trillion

DEFICIT

$1.0 Trillion

DEBT HELD BY THE PUBLIC (End of Fiscal Year)

$24.2 Trillion

  • Blog Post

    View CBO’s budget infographics to see how much the federal government spent and took in during fiscal year 2021, as well as broader trends in the budget over the past few decades.

  • Report

    Under the President’s proposals, the cumulative deficit for the 2023-2032 period would be $2.6 trillion smaller than it is in CBO’s baseline projections because revenues would be higher and spending lower.

  • Report

    In this report, CBO examines the mechanisms by which quantitative easing — large asset purchasing programs conducted by the Federal Reserve— affects the federal budget deficit.

  • Report

    The U.S. faces a challenging fiscal outlook according to CBO's extended baseline projections, which show budget deficits and federal debt held by the public growing steadily in relation to gross domestic product over the next three decades.

  • Report

    CBO examines how the discretionary spending proposals in the President's 2023 budget compare with CBO’s most recent baseline budget projections, which span 2022 to 2032.

  • Report

    To show how variations in economic conditions might affect its budget projections, CBO analyzed how the budget might change if values of four key economic variables differed from those in the agency’s forecast.

  • Report

    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 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

    This guide briefly explains—in plain language—the differences between some common budgetary terms.

  • Report

    In fiscal year 2021, the federal deficit totaled nearly $2.8 trillion—about $360 billion less than in 2020, but nearly triple the shortfall in 2019. That deficit was equal to 12.4% of GDP, down from 15.0% in 2020, but up from 4.7% in 2019.

  • Report

    CBO analyzed the Administration’s request for discretionary funding and some proposals that affect mandatory spending. The need for CBO to support ongoing legislative activity prevented the agency from completing a comprehensive analysis.

  • Blog Post

    View CBO’s budget infographics to see how much the federal government spent and took in during fiscal year 2020, as well as broader trends in the budget over the past few decades.

  • Report

    CBO presents its projections of the federal budget for the next 30 years if current laws governing taxes and spending generally did not change. Growth in revenues would be outpaced by growth in spending, leading to rising deficits and debt.

  • Report

    CBO periodically issues a compendium of policy options and their effects on the federal budget. This document provides estimates of the budgetary savings from 83 options that would decrease federal spending or increase federal revenues.

  • Report

    From the end of 2008 to 2019, the amount of federal debt held by the public nearly tripled. This report describes federal debt, various ways to measure it, CBO’s projections for the coming decade, and the consequences of its growth.