As ordered reported by the House Committee on Foreign Affairs on December 10, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021
In its March 2020 projections for fiscal year 2021, CBO underestimated revenues by 15 percent and overestimated outlays by 4 percent. CBO’s projection of the federal budget deficit in 2021 was more than the actual amount by 3.9 percent of GDP.
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