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An Analysis of the President’s 2020 Budget

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  • Congressional Budget Office

Abstract

By CBO’s estimates, the federal deficit under the President’s budget would increase from $896 billion in 2019 to $966 billion (equal to 4.4 percent of gross domestic product, or GDP) in 2020. The cumulative deficit under the President’s policies would total $9.9 trillion over the 2020–2029 period, $1.5 trillion less than in CBO’s baseline. (The Administration projects smaller deficits, totaling $7.3 trillion over that period.) Measured relative to the size of the economy, deficits would average 3.8 percent of GDP over the 10-year period, CBO estimates.

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  • Congressional Budget Office, 2019. "An Analysis of the President’s 2020 Budget," Reports 55195, Congressional Budget Office.
    • Handle: RePEc:cbo:report:55195
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    File URL: https://www.cbo.gov/system/files/2019-05/55195-APB2020_0.pdf
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    More about this item

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • 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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