Congressional Budget Office
In fiscal year 2024, which ended on September 30, the federal budget deficit totaled $1.8 trillion—an increase of $138 billion (or 8 percent) from the shortfall recorded in the previous year. Revenues and outlays alike increased from 2023 totals: Revenues rose by 11 percent, or $479 billion, and outlays increased by 10 percent, or $617 billion.
Budget | Congressional Budget Office
Jun 18, 2024 · The Budget and Economic Outlook: 2024 to 2034. February 7, 2024. 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. Report.
The Federal Budget in Fiscal Year 2023: An Infographic
Mar 5, 2024 · The Federal Budget in Fiscal Year 2023: An Infographic. March 5, 2024. Graphic. The federal deficit in 2023 was $1.7 trillion, equal to 6.3 percent of gross domestic product. View Document 1.11 MB.
Graphics - Congressional Budget Office
The Federal Budget in Fiscal Year 2022: An Infographic. March 28, 2023. The federal deficit in 2022 was $1.4 trillion, equal to 5.5 percent of gross domestic product, almost 2 percentage points greater than the average over the past 50 years. Graphic.
The Budget and Economic Outlook: 2024 to 2034
In CBO’s projections, the federal budget deficit grows from $1.6 trillion in fiscal year 2024 to $2.6 trillion in 2034. Deficits also expand in relation to the size of the economy, from 5.6 percent of gross domestic product (GDP) in 2024, when the collection of certain postponed tax payments temporarily boosts revenues, to 6.1 percent of GDP ...
The Federal Budget in Fiscal Year 2022: An Infographic
Mar 28, 2023 · The Federal Budget in Fiscal Year 2022: An Infographic. The federal deficit in 2022 was $1.4 trillion, equal to 5.5 percent of gross domestic product, almost 2 percentage points greater than the average over the past 50 years. The federal deficit in 2022 was $1.4 trillion, equal to 5.5 percent of gross domestic product, almost 2 percentage ...
The Budget and Economic Outlook: 2023 to 2033
Feb 15, 2023 · Visual Summary. In this report, the Congressional Budget Office describes its projections of the federal budget and the U.S. economy under current law for this year and the decade that follows. The deficit is projected to total $1.4 trillion in 2023; annual deficits average $2.0 trillion over the 2024–2033 period.
An Update to the Budget and Economic Outlook: 2024 to 2034
The number of people entering the United States has increased sharply in recent years, and it remains at unusually high levels for the next few years in the Congressional Budget Office’s projections. 1 Most of that increase comes not from temporary foreign workers or lawful permanent residents but from a category that CBO calls “other ...
History - Congressional Budget Office
History. Beginning in the early 1920s, the President began to assume more prominence in setting the federal budget. The Budget and Accounting Act of 1921 gave the President overall responsibility for budget planning by requiring him to submit an annual, comprehensive budget proposal to the Congress; that act also expanded the President’s ...
Health Care - Congressional Budget Office
Jun 18, 2024 · Federal Subsidies for Health Insurance: 2023 to 2033. September 28, 2023. In 2023, federal subsidies for health insurance are estimated to be $1.8 trillion, or 7.0 percent of gross domestic product (GDP). In CBO and JCT’s projections, those net subsidies reach $3.3 trillion, or 8.3 percent of GDP, in 2033. Blog Post.