US yearly deficits projected to average $2 trillion over next decade: report ...Middle East

The nation’s annual budget deficits are projected to average $2 trillion over roughly the next decade, according to figures released by the Congressional Budget Office (CBO) on Wednesday. In the recent 2023-2033 “Budget and Economic Outlook” report, the CBO projected the federal budget national deficit would reach $1.4 trillion for fiscal year 2023, $400 billion higher than its May 2022 estimate. Subsequent deficits are also projected to generally rise in the coming years, with an estimated shortfall of $2.7 trillion in 2033, the report said. “Federal debt held by the public is projected to rise from 98 percent of GDP in 2023 to 118 percent in 2033—an average increase of 2 percenta

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Last updated : 16 February 2023 clock 01:16 AM

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US yearly deficits projected to average $2 trillion over next decade: report ...Middle East

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