The Budget and Economic Outlook: 2023 to 2033

Congressional Budget Office

No 58848, Reports from Congressional Budget Office

Abstract: CBO describes its projections of the federal budget and the U.S. economy under current law for this year and the decade that follows. The deficit is projected to total $1.4 trillion in 2023 and to generally increase over the coming years, averaging $2.0 trillion over the 2024–2033 period. CBO expects economic growth to stagnate and inflation to slow in 2023 in response to the sharp rise in interest rates during 2022. After that, in CBO’s projections, output grows at a more robust pace as inflation continues to decline toward the Federal Reserve’s long-run goal of 2 percent.

JEL-codes: E20 E23 E60 E62 E66 H20 H60 H61 H62 H63 H68 (search for similar items in EconPapers)
Date: 2023-02-15
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Citations: View citations in EconPapers (1)

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