The Budget and Economic Outlook: 2021 to 2031

Feb 11, 2021 · For this report, the latest in the series, the projections are based on the laws in effect as of January 12, 2021. CBO’s economic assessment is identical to the forecast the agency published on February 1, 2021. Deficits. CBO projects a federal budget deficit of $2.3 trillion in …

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The Budget And Economic Outlook: 2021 To 2031

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The Budget And Economic Outlook: 2021 To 2031 - IDEAS/RePEc

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In CBOâ€™s projections, the federal budget deficit equals $2.3 trillion in 2021 and averages $1.2 trillion per year over the 2022â€“2031 period, under the assumption that existing laws …

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Analysis Of CBO's February 2021 Budget And Economic Outlook

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Feb 11, 2021 · The COVID-19 Pandemic Continues to Weigh on the Budget Outlook . Under current law, CBO projects deficits will be $345 billion and 0.1 percent of GDP lower over the …

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FAQs about The Budget and Economic Outlook: 2021 to 2031 Coupon?

What will the federal budget look like in 2021?

None of that new information affects any numbers shown in the report. If current laws governing taxes and spending generally remain unchanged, CBO projects, in 2021, the federal budget deficit will total $2.3 trillion, federal debt will reach 102 percent of GDP, and real GDP will grow by 3.7 percent. ...

What are CBO's budget projections for 2021 & 2031?

The first one shows CBO’s projections for the budget, by major category; projected deficits amount to $2.3 trillion in fiscal year 2021 and $12.3 trillion over the 2022–2031 period (see Table 1-1). ...

How much will the federal budget deficit be in 2021?

Deficits. CBO projects a federal budget deficit of $2.3 trillion in 2021, nearly $900 billion less than the shortfall recorded in 2020. At 10.3 percent of gross domestic product (GDP), the deficit in 2021 would be the second largest since 1945, exceeded only by the 14.9 percent shortfall recorded last year. ...

What is the CBO's outlook for 2021?

The CBO's outlook reflects both the worsening of the federal budget in nominal terms (including 2021) and the economy's improvement to a greater degree relative to CBO's previous estimate. As a result, the fiscal outlook has slightly improved when measured as a share of gross domestic product. ...

What is the forecast for 2021 to 2031?

The economic forecast for the years 2021 to 2031 is rooted in current economic conditions. In the second quarter of 2021, real economic output (that is, output adjusted to remove the effects of inflation) grew at an annual rate of 8.4 percent as the 2020–2021 coronavirus pandemic eased and demand for consumer services surged. ...

Will real GDP grow in 2021?

According to the updated budget and economic outlook, real GDP growth for 2021 is projected to be stronger than previously anticipated. This revision is primarily due to three developments: first, significant additional fiscal aid has been enacted since the publication of the February 2021 forecast. ...