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 Misery Index vs. Consumer Sentiment: A Paradox in American Economic Perception READ MORE Top Financial CEOs Caution Against Complacency in Face of Global Threats READ MORE Swiss Gold Exports Drop in April Amid Reduced Shipments to China READ MORE LBMA: 2024 Precious Metals Analysts' Forecasts READ MORE Bonds Rally on Fed Rate-Cut Expectations READ MORE Add a Comment Cancel replyYour email address will not be published.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