An Update to the Budget and Economic Outlook: 2021 to 2031

Congressional Budget Office

No 57218, Reports from Congressional Budget Office

Abstract: In CBO’s projections, the federal budget deficit equals $3.0 trillion in fiscal year 2021 and averages $1.2 trillion per year over the 2022–2031 period, under the assumption that existing laws governing taxes and spending generally remain unchanged. Because of those large deficits, federal debt held by the public is projected to reach 103 percent of GDP at the end of fiscal year 2021 and 106 percent of GDP, the highest level in the nation’s history, in 2031.

JEL-codes: E20 E23 E60 E62 E66 H20 H60 H61 H62 H63 H68 (search for similar items in EconPapers)
Date: 2021-07-01
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (8)

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