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 2020

(As of )

OUTLAYS

$4.7 Trillion

REVENUES

$3.6 Trillion

DEFICIT

$1.1 Trillion

DEBT HELD BY THE PUBLIC (End of Fiscal Year)

$17.8 Trillion

  • 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.

  • Report

    In CBO’s projections of the outlook under current law, deficits remain large by historical standards, federal debt grows to 98 percent of GDP by 2030, and the economy expands at an average annual rate of 1.7 percent from 2021 to 2030.

  • Report

    In fiscal year 2019, the budget deficit totaled $984 billion—$205 billion more than the shortfall recorded in 2018. Measured as a share of GDP, the deficit increased to 4.6 percent in 2019, up from 3.8 percent in 2018 and 3.5 percent in 2017.

  • Blog Post

    CBO released an interactive graphic showing the overall federal budget in fiscal year 2018 as part of its annual update of infographics on the federal budget.

  • Report

    Under the President’s proposals, deficits would total $9.9 trillion over the 2020–2029 period, $1.5 trillion less than the deficits in CBO’s current-law baseline. Federal debt held by the public would increase from 78 percent of GDP in 2019 to 87 percent in 2029.

  • Report

    CBO periodically issues a volume of options—this year’s installment presents 121—that would decrease federal spending or increase federal revenues. CBO’s website allows users to filter options by topic, date, and other categories.