Thursday, July 28, 2022

The 2022 Long-Term Budget Outlook

 See https://www.cbo.gov/publication/57971

in CBO’s projections, federal deficits over the 2022–2052 period average 7.3 percent of GDP (more than double the average over the past half-century) and generally grow each year, reaching 11.1 percent of GDP in 2052. That projected growth in total deficits is largely driven by increases in interest costs: Net interest outlays more than quadruple over the period, rising to 7.2 percent of GDP in 2052. Primary deficits—that is, deficits excluding net outlays for interest—grow from 2.3 percent of GDP in 2022 to 3.9 percent in 2052.

Update:  See also The 2021 Long-Term Budget Outlook and 2020 Long-Term Budget Outlook

The latest 2022 long-term budget outlook is more favorable than the previous ones.  The long-term outlook shouldn't change much in just one year, so I think it would be interesting to compare these.


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