In 2018, the federal government spent $492 billion on investment—for physical capital, education and training, and research and development—which represented 12 percent of federal spending and 2 percent of GDP.
Science and Research and Development
- Blog Post
This blog post explains how CBO assesses the macroeconomic effects of changes in federal spending for research and development. It also highlights areas in which additional research would enhance CBO’s capacity to evaluate such spending.