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 3,000-Year-Old Phoenician Gold Artifact Discovered in Jerusalem READ MORE Growing Credit Card Debt: A Warning Sign for Investors READ MORE Economic Optimism: Growth and Jobs Up, Inflation Down in 2024 Forecast READ MORE Governor Waller Opens Conference on U.S. Dollar's Global Role READ MORE Geopolitical Risks Cap Oil's Decline READ MORE Add a Comment Cancel replyYour email address will not be published.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