As ordered reported by the House Committee on Natural Resources on January 29, 2020

    

As passed by the House of Representatives on December 16, 2019

    

In CBO’s current-law projections, deficits remain large by historical standards, federal debt grows to 98 percent of GDP by 2030, and the economy expands at an average annual rate of 1.7 percent from 2021 to 2030.

    

To show how the federal budget might be affected if economic conditions differed from those in its current economic forecast, CBO has developed “rules of thumb” that provide a sense of how changes in four key economic variables would affect revenues, outlays, and deficits.

    

This workbook allows users to enter an alternative scenario for productivity growth, labor force growth, inflation, or interest rates and see estimates of revenues, several types of spending, and deficits under those scenarios.

    

In this report, CBO projects the budgetary effects of automatic stabilizers—as well as the size of deficits without them—from 2020 to 2030 and provides historical estimates of the stabilizers’ effects since 1970.

    

As ordered reported by the House Committee on Science, Space, and Technology on November 14, 2019

    

As ordered reported by the House Committee on Financial Services on September 20, 2019

    

As reported by the Senate Committee on Health, Education, Labor, and Pensions on December 17, 2019