US Deficit Expected To Shatter $1,700,000,000,000 This Year – 13% Higher Than Previous Estimate: CBO - The Daily Hodl
The Congressional Budget Office (CBO) says it expects the US budget deficit to be $200 billion larger than previous estimates. ...
- The Congressional Budget Office (CBO) is revising its projections for the US budget deficit, stating it will be significantly higher than previous estimates.
- The CBO now projects a deficit of $1.7 trillion in 2023, which is a 13% increase from their previous projections.
- The deficit is expected to range between $1.6 trillion and $1.8 trillion after 2023, reaching $2.9 trillion in 2033.
- CBO Director Phillip Swagel acknowledges the challenging situation, with the economy recovering but the deficit remaining wide.
- Swagel suggests that while economic growth will help, policymakers need to make choices regarding spending or revenue to address the deficit.
The article highlights the concerning increase in the US budget deficit, indicating a challenging situation that requires policymakers to make choices. The sentiment is negative.