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Federal budget deficit will rise to $1.9 trillion this fiscal year, CBO projects

By Zach Halaschak
Published
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The federal budget deficit will be nearly $2 trillion in fiscal 2024, the Congressional Budget Office estimated Wednesday.

The $1.9 trillion figure would be an increase from fiscal 2023’s deficit of $1.7 trillion. It is also a significant increase from the congressional scorekeeper’s February forecast that this fiscal year would end in a $1.6 trillion deficit.

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Budgets and Deficits Congressional Budget Office Economy National Debt Spending