Congressional Budget Office Economic Outlook
Working paper 2020 06 the effects of pandemic related legislation on output.
Congressional budget office economic outlook. The agency currently plans to release those budget projections later this summer. Congressional budget office testimony. 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.
Demographics and debt hang over long term u s. Congressional budget office director keith hall before the senate budget committee on the agency s latest budget and april 11 2018 cbo budget and economic outlook report. Thinkstock the congressional budget office has just released a devastating outlook for the u s.
The 2020 long term budget outlook cbo s projection of the effect of climate change on u s. As the effects of fiscal stimulus wane projected economic growth falls back below the historical average. 210 cannon house office building washington dc 20515.
Gdp adjusted for inflation is expected to decline 5 6 for the. The budget and economic outlook. 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.
The budget deficit will total 1 02 trillion 4 6 percent of gdp this year the first trillion dollar deficit in history not caused by the. Will have to contend with weaker population growth and the drag of high debt. Growth once the covid 19 pandemic passes the u s.
Wednesday january 29 2020 10 00am. The budget and economic outlook.