CBO: Federal deficits and debt to worsen over next decade
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The Congressional Budget Office (CBO) projects that federal deficits and public debt will rise significantly over the next decade, primarily due to increased spending on Social Security, Medicare, and debt servicing. The 2026 deficit is now projected to be $100 billion higher than previously estimated, with a cumulative increase of $1.4 trillion from 2026 to 2035. Public debt is anticipated to soar from 101% to 120% of GDP, exceeding historical records. Recent policy changes, including the "One Big Beautiful Bill Act," higher tariffs, and stringent immigration enforcement, have contributed to this fiscal outlook. Experts warn that growing deficits during a time of economic expansion and peace are unusual and unsustainable, emphasizing the need for bipartisan action to address the issue.
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Key Entities
- • Congressional Budget Office (CBO) - A nonpartisan federal agency that provides economic data and analysis to Congress.
- • U.S. federal government - The national government responsible for federal policies and expenditures.
Bias Distribution
Multi-Perspective Analysis
Left-Leaning View
Concerns over the impact of rising deficits on social programs and economic inequality.
Centrist View
Focus on the need for balanced fiscal policies to ensure economic stability.
Right-Leaning View
Emphasis on the potential for increased taxes and government intervention to address fiscal issues.
Source & Verification
Source: Associated Press
Status: Confirmed
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