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CBO Forecasts an Economic Nightmare for All Americans
The Congressional Budget Office (CBO) released new federal budgetary and economic projections, forecasting a future of bloated government, crushing federal debts, and mounting burdens on American families.
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| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | Heritage Foundation |
| Publication date: | May 27, 2022 |
| Authors: | Richard Stern |
| Geographic focus: | United States, China, |
| Page count: | 1 |
Methods
The CBO used various methods to project the federal budget and economic outlook, including analyzing current economic trends, government spending, and policies.
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Key Insights
The CBO's report indicates significant economic issues, with expectations of a smaller economy, persistent inflation, and stagnant growth rates similar to the Obama administration. Interest costs on federal debt are projected to surpass defense spending by 2029, with a $40.2 trillion federal debt by 2032.
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Additional Viewpoints
Categories: 2022_publication_year | english_publication_language | united_states_geographic_scope | china_geographic_scope | economic_projections | economics | federal_budget | federal_debt | government_spending | growth_rates | household_purchasing_power | inflation | interest_costs | private_investment | wealth_redistribution