Congressional Budget Office Economic Outlook
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This report presents the baseline economic forecast that the congressional budget office is using as the basis for updating its budget projections for 2020 to 2030.
Congressional budget office economic outlook. Congressional budget office testimony. As the effects of fiscal stimulus wane projected economic growth falls back below the historical average. Today the congressional budget office cbo released its january 2020 budget and economic outlook projecting the return of trillion dollar deficits as well as high and rising debt and deficits over the next decade and beyond cbo s report shows.
210 cannon house office building washington dc 20515. Growth once the covid 19 pandemic passes the u s. In cbo s projections deficits remain large by historical standards and federal debt grows to equal 93 percent of gdp by 2029.
The agency currently plans to release those budget projections later this summer. 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. Gdp adjusted for inflation is expected to decline 5 6 for the.
The budget and economic outlook. Thinkstock the congressional budget office has just released a devastating outlook for the u s. The congressional budget office s budget and economic outlook.
The 2020 long term budget outlook cbo s projection of the effect of climate change on u s. Working paper 2020 06 the effects of pandemic related legislation on output. Demographics and debt hang over long term u s.
Will have to contend with weaker population growth and the drag of high debt. The budget and economic outlook.
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