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Economy

CBO: Federal deficits to exceed $1 trillion indefinitely

By Nihal Krishan
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CBO: Federal deficits to exceed $1 trillion indefinitely

The federal budget deficit will exceed $1 trillion indefinitely, the Congressional Budget Office estimated Tuesday.

The agency, Congress’s nonpartisan group of budget experts, said in its annual report on the budget that the annual deficit would reach $1 trillion in fiscal year 2020, up from $984 billion the year before, and then rise in future years to roughly $1.7 trillion in 2030.

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Congressional Budget Office Federal Budget National Debt