CBO provides additional detail about its latest baseline projections, which were published on July 1, 2021. The projected deficit for 2021 is $3.0 trillion, $126 billion less than the deficit recorded last year.
Outlook for the Budget and the Economy
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ReportIf current laws generally remain unchanged, the federal budget deficit will total $3.0 trillion and federal debt will reach 103 percent of GDP in fiscal year 2021, CBO estimates, and real GDP will grow by 7.4 percent in calendar year 2021.
ReportThis document provides additional information about the baseline budget projections that CBO released on February 11, 2021.
ReportCBO 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.
ReportThis document provides additional information on the economic forecast that CBO initially released on February 1, 2021.
ReportIf current laws governing taxes and spending generally remain unchanged, CBO projects, in 2021, the federal budget deficit will total $2.3 trillion, federal debt will reach 102 percent of GDP, and real GDP will grow by 3.7 percent.
ReportIn this report, CBO provides information about how its most recent budget projections would change under alternative assumptions about future fiscal policies and estimates the possible budgetary outcomes.