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Bookmark or Share- An Update to the Budget and Economic Outlook: 2024 to 2034The Congressional Budget Office regularly publishes reports presenting its baseline projections of what the federal budget and the economy would look like in the current year and over the next 10 years if laws governing taxes and spending generally remained unchanged. This report is the latest in that series. Projections for 2024 Budget deficit:
- Budget | Congressional Budget OfficeIn CBO’s projections, federal budget deficits total $20 trillion over the 2025–2034 period and federal debt held by the public reaches 116 percent of GDP. Economic growth slows to 1.5 percent in 2024 and then continues at a moderate pace.
- Monthly Budget Review: November 2024 - Congressional Budget OfficeThe federal budget deficit totaled $622 billion in October and November 2024, the first two months of fiscal year 2025, CBO estimates. That amount is $242 billion more than the deficit recorded during the same period last fiscal year.
- Graphics - Congressional Budget OfficeThe Federal Budget in Fiscal Year 2022: An Infographic March 28, 2023 The federal deficit in 2022 was $1.4 trillion, equal to 5.5 percent of gross domestic product, almost 2 percentage points greater than the average over the past 50 years.
- The Budget and Economic Outlook: 2024 to 2034Projections at a Glance The Federal Budget The deficit totals $1.6 trillion in fiscal year 2024, grows to $1.8 trillion in 2025, and then returns to $1.6 trillion by 2027. Thereafter, deficits steadily mount, reaching $2.6 trillion in 2034. Measured in relation to gross domestic product (GDP), the deficit amounts to 5.6 percent in 2024, grows to 6.1 percent in 2025, and then shrinks to 5.2 ...
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