2024 federal budget deficit projection rises to nearly $2 trillion

An Update to the Budget and Economic Outlook: 2024 to 2034

In CBO's projections, the deficit totals nearly $2 trillion this year. Large deficits push federal debt held by the public to 122 percent of GDP in 2034.

The federal budget deficit – the gap between government revenue vs. spending – will be $1.9 trillion for the 2024 fiscal year.

Deficit Nears $2 Trillion Amid Rising Interest and Little Action

The Congressional Budget Office (CBO) today released its estimate of the Fiscal Year (FY) 2024 budget deficit in its Monthly Budget Review, ...

The U.S. Nearly Had a $2 Trillion Deficit Again

In fiscal year 2024 (FY24), which ended on September 30, 2024, the federal government ran a budget deficit of $1.8 trillion. That's an increase ...

Deficit Tracker - Bipartisan Policy Center

The federal government continued to run significant deficits in September, closing out fiscal year 2024 with a cumulative deficit of $1.8 trillion despite an 11 ...

Publications & Cost Estimates - Congressional Budget Office

Deficit reductions under the Fiscal Responsibility Act of 2023 reduce projected federal debt in 2033 by about 3 percent, from $46.7 trillion (or 119 percent of ...

The 12-Month Rolling Deficit Totals $2.1 Trillion in August 2024

From September 2023 through August 2024, the federal budget deficit totaled $2.1 trillion based on estimates from the Congressional Budget Office (CBO).

CBO: Fiscal 2024 budget deficit was $1.8 trillion - Roll Call

The CBO has long warned that the government is on a fiscal path that is unsustainable in the long term, with annual deficits projected to rise ...

Increased spending pushes 2024 US budget deficit estimate to $1.9 ...

The U.S. budget deficit will jump to $1.915 trillion for fiscal 2024, topping last year's $1.695 trillion gap as the largest outside the ...

U.S. deficit hits $1.8 trillion as interest costs rise - Washington Post

Interest payments on the existing national debt cost more than the Pentagon's budget in the last fiscal year, the Congressional Budget ...

CBO Raises US 2024 Budget Deficit Forecast by 27% to $1.92 Trillion

The nonpartisan Congressional Budget Office ramped up its estimate for this year's US budget deficit by 27% to almost $2 trillion, ...

Federal deficit nears $2 trillion and getting worse, experts warn

The federal budget deficit exceeded an estimated $1.8 trillion in fiscal year 2024, the CBO reported. Budget watchdogs are warning that the ...

CBO Raises Its 2024 Deficit Forecast 27% to Nearly $2 Trillion

The federal budget deficit will reach an estimated $1.9 trillion in fiscal year 2024, according to an updated outlook released by the ...

Federal Budget Deficit Forecast Jumps $400 Billion, Fueled by ...

In 2024, the federal budget deficit is estimated to reach nearly $2 trillion, according to new projections released by the Congressional Budget Office (CBO) ...

National Deficit | U.S. Treasury Fiscal Data

The amount by which spending exceeds revenue, $1.83 trillion in 2024, is referred to as deficit spending. The opposite of a budget deficit is a budget surplus , ...

Federal budget deficit to reach nearly $2 trillion this year, CBO projects

The CBO's latest estimate projects the budget deficit will reach $1.9 trillion in fiscal 2024, which would be the third largest in US history.

CBO's New Report Shows Worsening Fiscal Outlook

CBO projects that the annual budget deficit will rise over the next 10 years, climbing from $1.9 trillion in 2024 to $2.9 trillion in 2034.

2024 federal budget deficit projection rises to nearly $2 trillion

In a new projection from the nonpartisan Congressional Budget Office, the federal budget deficit – the gap between government revenue vs.

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

The federal budget deficit will be nearly $2 trillion in 2024, the Congressional Budget Office estimated, a 27% larger number than the last ...

How did the TCJA affect the federal budget outlook?

The Tax Cuts and Jobs Act cut taxes substantially from 2018 through 2025. The resulting deficits are adding $1 to $2 trillion to the federal debt.