The Congressional Budget Office (CBO) projects a federal budget deficit of $1.9 trillion this year, with expectations that by 2035, the national debt will swell to 118% of the Gross Domestic Product (GDP). As we journey through the coming years, economic growth is set to decelerate while inflation is anticipated to ease, leading to moderate conditions post-2026.
The CBO forecasts a $1.9 trillion federal budget deficit for this year, with national debt reaching 118% of GDP by 2035. Economic growth will slow, and inflation is expected to decline, leading to moderate levels in the years following 2026. This report outlines key budgetary projections essential for understanding long-term fiscal health.
In summary, the CBO’s outlook reveals a concerning trend of increasing federal budget deficits and a heavy debt-to-GDP ratio. Economic growth is expected to slow, and inflation may stabilize, influencing federal budget planning from 2025 to 2035. This comprehensive analysis serves as a crucial forecast for policymakers and citizens alike, highlighting the financial path ahead.
Original Source: www.cbo.gov
