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Long-Term Federal Budget Projections

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The Congressional Budget Office’s projections suggest that, if current policies remain in place, federal revenues will grow at the same pace as GDP and will stay at just below 20% of GDP through 2070 (under mid-range economic and demographic assumptions). However, federal expenditures as a percent of GDP will begin to rise after 2013. The increase will be sustained over several decades, reaching one-third of GDP by 2070.

Suggested citation: "Long-Term Federal Budget Projections," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-01, pp. 14, 01.01.2001.

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