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An Update to the Budget and Economic Outlook: 2015 to 2025 1 (August 2015)

handle is hein.congrec/cbo2472 and id is 1 raw text is: i An Update to the Budget and Economic Outlook: 2015 to 2025 Provided as a convenience, this screen-friendly version is identical in content to the principal, print-friendly version of the report. Any tables, figures, and boxes appear at the end of this document; click the hyperlinked references in the text to view them. Notes: Unless otherwise indicated, all years referred to in describing the budget outlook are federal fiscal years, which run from October 1 to September 30, and are designated by the calendar year in which they end. Years referred to in describing the economic outlook are calendar years. Numbers in the text and tables may not add up to totals because of rounding. Also, some values are expressed as fractions to indicate numbers rounded to amounts greater than one-tenth of a percentage point. Some figures in this report have vertical bars that indicate the duration of recessions. (A recession extends from the peak of a business cycle to its trough.) The economic forecast was completed in early July, and, unless otherwise indicated, estimates presented in Chapter 2 and Appendix B of this report are based on information available at that time. In particular, the economic forecast described in this report does not reflect the annual revisions to the national income and product accounts, which were released by the Bureau of Economic Analysis on July 30. In Chapter 2, only figures and discussions of recent events are consistent with the revised data. The implications of those revisions for CBO's projections are described in Box 2-1. As referred to in this report, the Affordable Care Act comprises the Patient Protection and Affordable Care Act (Public Law 111-148), the health care provisions of the Health Care and Education Reconciliation Act of 2010 (PL. 111-152), and the effects of subsequent judicial decisions, statutory changes, and administrative actions. Supplemental data for this analysis are available on CBO's website (www.cbo.gov/publication/50724), as is a glossary of common budgetary and economic terms (www.cbo.gov/publication/42904).

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