Director Keith Hall's Press Briefing on the Update to the Budget and Economic Outlook: 2015 to 2025

    

Remarks by Keith Hall, CBO Director

    

This slide deck provides a quick overview of CBO's updated economic forecast published in August 2015.

    

CBO expects that the deficit this year will be $426 billion––$60 billion less than projected in March. The economy is expected to expand modestly this year, at a solid pace in 2016 and 2017, and at a more moderate pace in subsequent years.  

    

CBO projects that if the debt limit is unchanged, the measures that the Treasury has been taking to avoid breaching that limit will be exhausted sometime between mid-November and early December, and the Treasury will then run out of cash.

    

As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 29, 2015

    

As ordered reported by the House Committee on Education and the Workforce on July 22, 2015