Analysis of CBO's July 2021 Budget and Economic Outlook | Committee for a Responsible Federal Budget

Analysis of CBO's July 2021 Budget and Economic Outlook | Committee for a Responsible Federal Budget: Today, the Congressional Budget Office (CBO) released initial details of its updated Budget and Economic Outlook, accounting for enactment of the American Rescue Plan and months of new economic data. CBO’s new baseline shows: Federal debt held by the public will rise from 100 percent of Gross Domestic Product (GDP) at the end of Fiscal Year (FY) 2020 to 103 percent in 2021 and