$1 Trillion Deficits To Return, National Debt To Rise, Projects CBO
The nonpartisan Congressional Budget Office released its first 10-year economic outlook to factor in the GOP's 2017 tax cuts and a recent two-year spending deal.
As the House prepares to vote this week on a largely symbolic balanced-budget amendment to the Constitution, its own budget watchdog delivered a stark reality check Monday that forecasts the return of $1 trillion-plus annual deficits and a ballooning public debt that will approach $29 trillion by the end of the next decade.
"If current laws governing taxes and spending, "with accumulating deficits driving debt held by the public to nearly 100 percent of GDP by 2028."
