Reported 8 months ago
The Congressional Budget Office estimates that the annual deficit for 2024 will reach $1.9 trillion, increasing from $1.5 trillion just four months prior. The gap between spending and revenue is projected to be $2.9 trillion within 10 years, with deficits representing 6.7% of GDP in 2024. Despite talk of debt reduction by politicians like Biden and Trump, the lack of concrete action suggests a grim outlook for stabilizing the national debt until a crisis forces necessary changes.
Source: YAHOO