What will the U.S. economy look like through 2031? The Congressional Budget Office (CBO) has released its economic outlook report for the next decade, which includes a rapidly expanding real gross domestic product (GDP) this year, “reaching its previous peak in mid-2021.” The CBO estimates that average annual GDP growth from 2021 to 2025 will be 2.6%. It also estimates that the national deficit will grow by $774 billion in fiscal year 2021 and $98 billion in FY 2022. Projections “are subject to an unusually high degree of uncertainty” due to factors including COVID-19, monetary and fiscal policies and global financial market forces, the CBO said. Here’s the report: https://bit.ly/3pTTo75 Call or visit our website for more information! www.mjscpa.com/
