CBO CONCERNS

The CBO recently forecast that if added interest is included, the One Big Beautiful Bill Act passed by the House will, if it becomes law, increase the national debt by $3 trillion above baseline through 2034. Many have criticized the CBO for the poor quality of earlier estimates. The criticism is valid. Looking at CBO projected US deficits vs. actual deficits between 1999-2024, CBO projections have chronically underestimated actual deficits.