======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:  |[[https://www.heritage.org/budget-and-spending/commentary/cbo-forecasts-economic-nightmare-all-americans|source]]   |
|Language:  |English  |
|Publisher:  |[[encyclopedia:heritage_foundation|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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<span #categories_box> Categories:  {{tag>2022_publication_year}} |  {{tag>English_publication_language}} |  {{tag>United_States_geographic_scope}} |  {{tag>china_geographic_scope}} |  {{tag>economic_projections}} |  {{tag>economics}} |  {{tag>federal_budget}} |  {{tag>federal_debt}} |  {{tag>government_spending}} |  {{tag>growth_rates}} |  {{tag>household_purchasing_power}} |  {{tag>inflation}} |  {{tag>interest_costs}} |  {{tag>private_investment}} |    {{tag>wealth_redistribution}}   </span>  


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