The Budget and Economic Outlook: 2020 to 2030

Congressional Budget Office

No 56020, Reports from Congressional Budget Office

Abstract: In CBO’s projections, the federal budget deficit equals $1.0 trillion in 2020 and averages $1.3 trillion per year over the 2021–2030 period, under the assumption that existing laws governing taxes and spending generally remained unchanged. Because of those large deficits, federal debt held by the public is projected to grow from 79 percent of GDP in 2019 to 98 percent of GDP in 2030. By 2050, debt would be 180 percent of GDP—far higher than it has ever been.

JEL-codes: H20 H60 H61 H62 H63 H68 (search for similar items in EconPapers)
Date: 2020-01-28
New Economics Papers: this item is included in nep-pub
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