A Conversation on the Long-Term Budget Outlook with CBO Director Phillip Swagel

The Peter G. Peterson Foundation Economic Forum brings together thought leaders shaping the future of our nation for in-depth conversations on America’s most pressing issues.

As the Federal Reserve takes necessary steps to battle high inflation, there are significant implications for our federal budget outlook. CBO’s May report showed that interest costs will add $8.1 trillion to deficits over the next decade. The 2022 Long-Term Budget Outlook, which was released on July 27, provided additional details about spending, revenue, interest, debt and deficits over the next 30 years. CBO Director Phillip Swagel joined Peter G. Peterson Foundation CEO Michael Peterson for a discussion of this new report a day after its release.

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