CBO Predicts Decade of Soaring U.S. Deficits The U.S. deficit is expected to significantly increase over the next decade, according to the Congressional Budget Office (CBO). Interest payments on government debt are set to consume an unprecedented portion of the budget. This year’s deficit of $1.6 trillion is projected to jump to $2.6 trillion by 2034, despite a slightly more optimistic outlook than earlier predictions. The deficit as a percentage of GDP is forecasted to rise from 5.6% this year to 6.1% in 2025, maintaining that level through 2034, a situation typically only seen during economic crises. With projected low unemployment rates, these large primary deficits are notably concerning. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold Prices Climb as Markets Anticipate Federal Reserve Rate Cuts READ MORE Chinese Consumers Cool on Gold — Central Bank Demand Remains Strong READ MORE Thirty-Six Minutes of Chaos: Analyzing the Flash Crash READ MORE Global Recession Unlikely, Says IMF's Top Economist READ MORE In Gold We Trust, Own Silver We Must READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment