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US budget deficit to hit $1.9 trillion in 2025: CBO

  • The US budget deficit is projected to reach $1.9 trillion in 2025, according to the CBO.
  • The federal debt is expected to reach 100% of GDP this year and 118% by 2035, as reported by the CBO.
  • Scott Bessent, Trump's Treasury Secretary nominee, aims to reduce the budget deficit to 3% of GDP by 2028.
  • Michael Peterson, CEO of the Peter G. Peterson Foundation, emphasized the need for fiscal competence to manage the growing national debt.
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Bias Distribution

  • 48% of the sources are Center
47% Center
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