An Update to the Budget Outlook: 2020 to 2030

Congressional Budget Office

No 56517, Reports from Congressional Budget Office

Abstract: CBO projects a federal budget deficit of $3.3 trillion in 2020, more than triple the shortfall recorded in 2019, mostly because of the economic disruption caused by the 2020 coronavirus pandemic and the enactment of legislation in response. At 16.0 percent of gross domestic product (GDP), the deficit in 2020 would be the largest since 1945. In CBO’s projections, the average deficit over the 2021–2030 period is 2 percentage points more than annual deficits have averaged over the past 50 years.

JEL-codes: H20 H60 H61 H62 H63 H68 (search for similar items in EconPapers)
Date: 2020-09-02
References: Add references at CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
https://www.cbo.gov/system/files/2020-09/56517-Budget-Outlook.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbo:report:56517

Access Statistics for this paper

More papers in Reports from Congressional Budget Office Contact information at EDIRC.
Bibliographic data for series maintained by ().