US deficit projected to reach $1.9 trillion this year ...Middle East

The federal budget deficit is projected to reach $1.9 trillion this fiscal year, the Congressional Budget Office (CBO) said Tuesday, as government spending continues to rise.  The estimate of the gulf between annual revenue and spending is up about $400 billion from the office’s projections released in February. It was included in the nonpartisan budget scorekeeper’s latest update to its 2024-2034 budget and economic outlook. The office attributed the 27-percent jump largely to several key drivers, including foreign military aid, the Biden administration’s student loan actions, the Federal Deposit Insurance Corporation's slower-than-expected recovery of payments made in response to ba

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