The Accuracy of CBO’s Budget Projections for Fiscal Year 2024

Congressional Budget Office

No 60885, Reports from Congressional Budget Office

Abstract: In its updated May 2023 baseline projections, which include the estimated budgetary effects of subsequent legislation, CBO underestimated revenues for fiscal year 2024 by 1 percent and outlays by 6 percent. The agency’s projection of the federal budget deficit for 2024 was less than the actual amount by 1.1 percent of GDP. CBO also compared its most recent budget projections for 2024, published this past June, with actual outcomes.

JEL-codes: C53 H20 H68 (search for similar items in EconPapers)
Date: 2025-01-10
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cbo.gov/system/files/2025-01/60885-budget-accuracy.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbo:report:60885

Access Statistics for this paper

More papers in Reports from Congressional Budget Office Contact information at EDIRC.
Bibliographic data for series maintained by ().