Source: US Congressional Budget Office
Each year, the Congressional Budget Office provides the Congress with its projections of what the federal budget and the economy would look like over the next 30 years if current laws generally remained unchanged. Those projections show the estimated effects of demographic trends, economic developments, and health care costs on federal spending, revenues, deficits, and debt. In 2023, CBO also analyzed eight scenarios that differ from those underlying its long-term baseline budget projections—six that vary economic outcomes and two that vary spending or revenues. This presentation discusses both the long-term projections and the alternative scenarios.