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