The 2020 Long-Term Budget Outlook

Congressional Budget Office

No 56516, Reports from Congressional Budget Office

Abstract: By the end of 2020, federal debt held by the public is projected to equal 98 percent of gross domestic product (GDP)—its highest level since shortly after World War II. If current laws governing taxes and spending generally remained unchanged, debt would first exceed 100 percent of GDP in 2021 and would reach 107 percent of GDP, its highest level in the nation’s history, by 2023, CBO projects. Debt would continue to increase in most years thereafter, reaching 195 percent of GDP by 2050.

JEL-codes: E20 E60 E61 E62 E66 H50 H51 H53 H55 H60 H61 H62 H63 H68 (search for similar items in EconPapers)
Date: 2020-09-21
New Economics Papers: this item is included in nep-his, nep-mac and nep-pub
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