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.
Long-Term Economic Analysis
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.
CBOLT is the main analytical tool that CBO uses to make long-term projections of the economy and federal budget. Those projections help shed light on fiscal challenges that extend beyond CBO’s standard 10-year projection window.