US budget deficit to hit $1.9 trillion in 2025: CBO
- The federal debt is expected to hit 100% of GDP this year and 118% in 2035, as stated in the report.
- Congress must address the debt ceiling soon to avoid defaulting on obligations, warns Michael Peterson, CEO of the Peter G. Peterson Foundation.
- Scott Bessent, Trump's Treasury Secretary nominee, aims to reduce the budget deficit to 3% of GDP by 2028.
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Coverage Details
Total News Sources0
Leaning Left6Leaning Right5Center10Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
47% Center
L 29%
C 47%
R 24%
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