The Accuracy of CBO’s Budget Projections for Fiscal Year 2022

Congressional Budget Office

No 58603, Reports from Congressional Budget Office

Abstract: In its July 2021 projections for fiscal year 2022, CBO underestimated revenues by 10 percent and outlays by 5 percent. As a result, CBO’s projection of the federal budget deficit for 2022 was more than the actual amount by 0.8 percent of gross domestic product.

JEL-codes: C53 (search for similar items in EconPapers)
Date: 2023-01-09
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