CBO Publications

Federal Deficit $1.8T, 5.8% of GDP

The Congressional Budget Office released its budget outlook report showing the federal deficit reached $1.8 trillion in fiscal year 2025, representing 5.8% of GDP. This represents a slight improvement from the previous year's 6.4% of GDP, reflecting increased tax revenues and moderating spending growth.

Federal Revenues in Fiscal Year 2025

The Congressional Budget Office released an infographic showing federal revenues totaled $5.2 trillion in fiscal year 2025. The publication includes related infographics on discretionary spending, mandatory spending, and overall federal budget figures for FY2025. This is informational budgetary data with no regulatory requirements.

Mandatory Spending in Fiscal Year 2025

The Congressional Budget Office released an infographic detailing mandatory federal spending in fiscal year 2025, totaling approximately $4.2 trillion. The publication focuses on major mandatory programs including Social Security and Medicare. This document serves as an informational reference for budget data rather than a regulatory requirement.

Federal Discretionary Spending FY2025 Infographic

The Congressional Budget Office published an infographic on March 30, 2026 detailing federal discretionary outlays totaling $1.9 trillion in fiscal year 2025. Nondefense spending exceeded half of total discretionary outlays. This is one of four related infographics on the federal budget for FY2025.

Federal Budget Infographics for Fiscal Year 2025

CBO published four budget infographics showing federal budget results for fiscal year 2025. The government ran a budget deficit of $1.8 trillion (5.8% of GDP), with net interest costs totaling $970 billion. Social Security and Medicare accounted for the majority of mandatory spending and more than one-third of all federal spending.

Carbon Import Tariffs and Export Rebates Analysis

The Congressional Budget Office published Working Paper 2026-03 analyzing the economic and environmental effects of carbon import tariffs and export rebates implemented alongside a carbon tax using the CBO-EPPA model. The paper examines impacts on sectoral output, international trade patterns, and carbon dioxide emissions. This analytical work supports Congressional deliberations on carbon pricing mechanisms.