Congressional Budget Office
Non-partisan US agency that produces budget and economic projections for Congress.
The Congressional Budget Office's February 2026 outlook put the US fiscal 2026 deficit at $1.9tn and federal debt held by the public at 120% of GDP in 2036, on the ten-year baseline it has published for decades.
Last refreshed: 7 October 2026
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The Congressional Budget Office has published a ten-year budget baseline for decades, and its projections still draw partisan attack. It is the working model for the horizon the Commons Treasury Committee asked ministers to consider for Britain on 23 September 2026, when it suggested a ten-year OBR forecast beside the five-year one.
The CBO was founded on 12 July 1974 by the Congressional Budget and Impoundment Control Act (Public Law 93-344). Its mandate is to give Congress objective, nonpartisan and timely analysis for economic and budget decisions. Its February 2026 Budget and Economic Outlook, covering 2026 to 2036, put the fiscal 2026 deficit at $1.9tn and projected federal debt held by the public at 120% of GDP in 2036.
Its estimates also anchor US arguments over spending cuts: its analyses have found that IRS enforcement staff return several dollars for each dollar spent.