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The Congressional Budget Office projects the federal budget deficit to reach $1.9 trillion this fiscal year, due to increased government spending. US deficit projected to reach $1.9 trillion this year
The CBO's new estimate for the fiscal 2024 deficit is now $1.9 trillion, up from its prior view for $1.6 trillion issued in February and up from the 2023 deficit of about $1.7 trillion.
The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays ...
CBO projects a federal budget deficit of $1.6 trillion for 2024. In the agency’s projections, deficits generally increase over the coming years; the shortfall in 2034 is $2.6 trillion. The deficit amounts to 5.6 percent of gross domestic product (GDP) in 2024, swells to 6.1 percent of GDP in 2025, and then declines in the two years that follow.
The actual and projected budget deficit of the United States federal budget by the CBO as of 2023. ... the debt would reach $33.0 trillion or 113% GDP in 2028.
For scale, in 2009 the budget deficit reached 9.8% GDP ($1.4 trillion nominal dollars) in the depths of the Great Recession. CBO forecast in January 2020 that the budget deficit in FY2020 would be $1.0 trillion (~$1.16 billion in 2023), prior to considering the impact of the coronavirus pandemic or CARES. [206]
The federal budget deficit will hit $1.9 trillion this fiscal year, according to an updated projection released Tuesday by the Congressional Budget Office. ... 800-290-4726 more ways to reach us ...
800-290-4726 more ways to reach us. Sign in ... The deficit is expected to widen under the status quo and could get even ... that’s one-fourth the $1.9 trillion deficit the country is running ...