The Long-Term Budget Outlook: 2024 to 2054

Congressional Budget Office

No 59711, Reports from Congressional Budget Office

Abstract: If current laws governing taxes and spending generally remained unchanged, the federal budget deficit would increase significantly in relation to gross domestic product over the next 30 years, CBO projects. That increase would stem from high and rising interest costs and from large primary deficits (that is, deficits excluding net outlays for interest). Growing total deficits would push federal debt held by the public far beyond any previously recorded level. Such large and growing debt would have significant economic and financial consequences.

JEL-codes: E20 E60 E61 E62 E66 H50 H51 H53 H55 H60 H61 H62 H63 H68 (search for similar items in EconPapers)
Date: 2024-03-20
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