CBO’s Director, Phillip Swagel, discusses the current budget and economic outlook.
CBO’s Director, Phillip Swagel, briefs members of the press on the current budget and economic outlook.
In 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.
