The Budget and Economic Outlook: 2019 to 2029

Congressional Budget Office

No 54918, Reports from Congressional Budget Office

Abstract: In CBO’s projections, the federal budget deficit is about $900 billion in 2019 and exceeds $1 trillion each year beginning in 2022. Because of persistently large deficits, federal debt held by the public is projected to grow steadily, reaching 93 percent of GDP in 2029. Real GDP is projected to grow by 2.3 percent in 2019—down from 3.1 percent in 2018—as the effects of the 2017 tax act on the growth of business investment wane and federal purchases decline sharply in the fourth quarter of 2019.

JEL-codes: H20 H60 H61 H62 H63 H68 (search for similar items in EconPapers)
Date: 2019-01-28
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Citations: View citations in EconPapers (15)

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