Highlights of the CBO Budget Outlook

AAF’s Director of Fiscal Policy Gordon Gray breaks down the key points of the Congressional Budget Office’s (CBO) newly released An Update to the Budget Outlook: 2020-2030. The analysis, the first to fully incorporate the impact of COVID-19, shows that the economic and budgetary consequences of the pandemic combine to push the United States into its highest levels of indebtedness in its history, Gray notes.

His central points:

  • According to CBO’s projection’s, the debt will reach the highest levels in U.S. history in 2023;
  • The combined economic, legislative, and technical effects of the COVID-19 pandemic are projected to add $4.4 trillion to baseline deficits, but net of substantially discounted debt service costs, the change in projected deficits since March is “only” $2.1 trillion over 2020-2030; and
  • The deficit is projected to be lower, in both nominal terms and as a share of GDP, in 2025 than CBO estimated in its last projection.

Read the analysis.[1]


  1. ^ Read the analysis. (www.americanactionforum.org)

Source URL: Read More
The public content above was dynamically discovered – by graded relevancy to this site’s keyword domain name. Such discovery was by systematic attempts to filter for “Creative Commons“ re-use licensing and/or by Press Release distributions. “Source URL” states the content’s owner and/or publisher. When possible, this site references the content above to generate its value-add, the dynamic sentimental analysis below, which allows us to research global sentiments across a multitude of topics related to this site’s specific keyword domain name. Additionally, when possible, this site references the content above to provide on-demand (multilingual) translations and/or to power its “Read Article to Me” feature, which reads the content aloud to visitors. Where applicable, this site also auto-generates a “References” section, which appends the content above by listing all mentioned links. Views expressed in the content above are solely those of the author(s). We do not endorse, offer to sell, promote, recommend, or, otherwise, make any statement about the content above. We reference the content above for your “reading” entertainment purposes only. Review “DMCA & Terms”, at the bottom of this site, for terms of your access and use as well as for applicable DMCA take-down request.

1 2