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Updated Budget Projections: 2019 to 2029

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  • Congressional Budget Office

Abstract

CBO estimates that the deficit for fiscal year 2019 will be $896 billion, which is $1 billion less than the agency estimated in January. If current laws generally remained unchanged, deficits would average 4.3 percent of gross domestic product over the 2020–2029 period. Other than the period immediately after World War II, the only other time the average deficit has been so large over so many years was after the 2007–2009 recession.

Suggested Citation

  • Congressional Budget Office, 2019. "Updated Budget Projections: 2019 to 2029," Reports 55151, Congressional Budget Office.
    • Handle: RePEc:cbo:report:55151
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    File URL: https://www.cbo.gov/system/files/2019-05/55151-budget_update_0.pdf
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    Citations

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    Cited by:

    1. Romina Boccia, 2019. "Apple Trees for Firewood: James Buchanan’s Case for a Balanced Budget Amendment in the Context of U.S. Fiscal Policy," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 36(1), pages 7-23, October.
    2. Gale, William G., 2019. "Fiscal policy with high debt and low interest rates," MPRA Paper 99207, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt

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