CBO provides details about the agency's most recent projections of the economy through 2025, which reflect economic developments as of December 5, 2023.
CBO provides details about the agency's most recent projections of the economy through 2025, which reflect economic developments as of December 5, 2023.
In its May 2022 projections for fiscal year 2023, CBO overestimated revenues by 11 percent and underestimated outlays by 9 percent. CBO’s projection of the federal deficit for 2023 was less than the actual amount by 3.9 percent of GDP.
