The economy is expected to grow more slowly over the next three decades, according to a Congressional Budget Office (CBO) report released last week. Increased government spending and weak population growth are the primary factors driving the expected slowdown.
The CBO made its prediction in its long-term budget and economic outlook report, which spans from 2025 to 2055. In the report, the CBO also said it expects publicly held debt to reach 156% of gross domestic product in 2055, down from 166% by 2054, it predicted in last year’s report.
The report said that with lower birth rates, the United States is becoming more dependent on immigrants in the workforce to sustain growth. Without immigration, the U.S. population could begin shrinking in 2023, the CBO said.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
