On June 28, 2023 the Congressional Budget Office released its annual Long Term Budget Outlook for 2023, which projects federal spending and revenue out to 2053. As before, the CBO study shows that federal health-care programs and interest costs will eat the budget, with federal spending exceeding 25 percent GDP by the mid 2030s while federal revenue stays below 19 percent GDP.
UsGovernmentspending.com has updated its chart of the CBO Long Term Budget Outlook here. You can download the data and also view CBO Long Term Budget Outlooks going back to 1999.
Two centuries of government spending in the United States.
Wednesday, June 28, 2023
CBO Long Term Budget Outlook for 2023
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