Trillion deficits returning in 2020 indefinitely, budget office says

Published April 9, 2018 6:00pm ET



The federal deficit will fall just shy of the $1 trillion mark next year, but eclipse that number in 2020 and then indefinitely, the Congressional Budget Office projected Monday in a report that reflects the long-run budget challenges facing the government that Congress has exacerbated with spending increases and tax cuts.

The government’s annual shortfall will total $804 billion in fiscal 2018 and rise to $981 billion in fiscal 2019, the CBO estimated, and then top the $1 trillion mark in 2020 before growing indefinitely. Previously, it hadn’t seen trillion-dollar deficits before 2022.

Already a print subscriber? Click here to login/register your account

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.