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The Deficit Reductions Necessary to Meet Various Targets for Federal Debt

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  • Congressional Budget Office

Abstract

CBO has examined various illustrative scenarios in which the federal government makes debt held by the public smaller than it would be if current laws remained generally unchanged. In those scenarios, the primary deficit—that is, the deficit excluding net outlays for interest—is reduced to make debt equal 41 percent, 78 percent, or 100 percent of gross domestic product (GDP) over the next 15 to 30 years. Two broad strategies are used: reducing the primary deficit by a constant share of GDP over time and reducing the primary deficit by an increasing share of GDP.

Suggested Citation

  • Congressional Budget Office, 2018. "The Deficit Reductions Necessary to Meet Various Targets for Federal Debt," Reports 54181, Congressional Budget Office.
    • Handle: RePEc:cbo:report:54181
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    File URL: https://www.cbo.gov/system/files/2018-08/54181-DebtTargets.pdf
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    More about this item

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt

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