The Accuracy of CBO’s Budget Projections for Fiscal Year 2023

Congressional Budget Office

No 59682, Reports from Congressional Budget Office

Abstract: In its May 2022 projections for fiscal year 2023, CBO overestimated revenues by 11 percent and underestimated outlays by 9 percent. CBO’s projection of the federal deficit for 2023 was less than the actual amount by 3.9 percent of GDP.

JEL-codes: C53 H20 H68 (search for similar items in EconPapers)
Date: 2023-12-15
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