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

  • The US budget deficit is projected to rise to $1.9 trillion for the current fiscal year, or 6.2% of GDP, due to excessive government spending.
  • The CBO forecasts that the federal debt will exceed 106% of GDP by 2029 and reach 118% by 2035.
  • Michael Peterson, CEO of the Peter G. Peterson Foundation, emphasized the need for America to show fiscal competence amid growing national debt.
  • Trump's Treasury Secretary nominee Scott Bessent aims to reduce the budget deficit to 3% of GDP by 2028.
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Bias Distribution

  • 48% of the sources are Center
47% Center
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