CBO analyzes and publishes projections of budgetary and economic outcomes that are based on the assumption that current laws regarding federal spending and revenues will generally remain in place. Those projections, which are known as baseline projections, cover the 10-year period used in the Congressional budget process. Reports on those projections usually describe the differences between the current projections and previous ones; compare the economic forecast with those of other forecasters; and show the budgetary effects of alternative policies. The budget and economic projections are generally issued each January in The Budget and Economic Outlook and are updated in August; the budget projections are also generally updated in March.
