CBO typically underestimates debt growth near the beginning of a recession: Average budget-year debt error as a percent of GDP
|Average Error Near the Beginning of Economic Downturns||-5.444|
|Average Error for Other Projections||0.802|
|Average Error for All Projections||0.251|
View the underlying data on epi.org.
Source: EPI analysis of the Congressional Budge Office's September 2019 report on past deficit and debt projection.