The Congressional Budget Office (CBO) provides a comprehensive forecast based on current laws, including the assumption that the 2017 individual tax cuts will expire at the end of 2025. Here's a summary of their projections:The CBO forecasts the U.S. fiscal year 2024 deficit at $1.507 trillion, a decrease from the FY 2023 deficit of $1.695 trillion.Over the next decade, the cumulative deficit is expected to be $20.016 trillion, slightly lower than the previous estimate for 2024-2033 of $20.314 trillion.The forecast for FY 2024 shows a deficit at 5.3% of GDP, with an increase to 6.2% by FY 2034, compared to the FY 2023 deficit of 6.3%.U.S. public debt is projected to rise to 116% of GDP by th
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