CBO Releases March 2025 Long-Term Budget and Economic Outlook

The Congressional Budget Office (CBO) just released its March 2025 Long-Term Budget and Economic Outlook, its first full thirty-year baseline and economic forecast since March 2024. CBO projects that federal debt held by the public will rise from a projected 100 percent of Gross Domestic Product (GDP) in Fiscal Year (FY) 2025 to 156 percent of GDP by the end of 2055. The deficit as a share of the economy will rise from 6.2 percent in FY 2025 to 7.3 percent by 2055. And interest, the fastest growing part of the budget, will grow from a record 3.2 percent of GDP in 2025 to 5.4 percent of GDP by 2055.

The Committee for a Responsible Federal Budget has put out a press release on the report and will publish our full analysis of CBO's long-term outlook later today.