CBO Projects Increasing Deficits Over Next Decade

CBO Projects Increasing Deficits Over Next Decade

U.S. Congressional Budget Office

The deficit will shrink to $1 trillion in 2022 but deficits will then increase through 2032, with outlays averaging 23 percent of GDP and revenues hitting a two-decade high in 2022 followed by declines that will remain above long-term averages, the Congressional Budget Office said.

The deficit will shrink to $1 trillion in 2022 but deficits will then increase through 2032, with outlays averaging 23 percent of GDP and revenues hitting a two-decade high in 2022 followed by declines that will remain above long-term averages, the Congressional Budget Office said.

The deficit will shrink to $1 trillion in 2022 but deficits will then increase through 2032, with outlays averaging 23 percent of GDP and revenues hitting a two-decade high in 2022 followed by declines that will remain above long-term averages, the Congressional Budget Office said in a May budget and economic outlook.

The deficit will shrink to $1 trillion in 2022 but deficits will then increase through 2032, with outlays averaging 23 percent of GDP and revenues hitting a two-decade high in 2022 followed by declines that will remain above long-term averages, the Congressional Budget Office said in a May budget and economic outlook.