Advertisement

Report Shows Deficit to Exceed $1 Trillion Next Year

Report Shows Deficit to Exceed $1 Trillion Next Year

Created: August 21, 2019 04:51 PM

WASHINGTON (AP) - The Congressional Budget Office is upping its projections for this year's federal deficit by $63 billion and increasing its forecast for deficits over the next decade by $809 billion.

Advertisement

The nonpartisan office projects the deficit will exceed $1 trillion beginning next year.

The office says its projections on both fronts stem mostly from recently enacted legislation that lifted the nation's debt limit and reversed scheduled 10% cuts to defense and nondefense programs.

Copyright 2019 The Associated Press. All rights reserved.

Advertisement
Advertisement

Residents of Assisted Living Facility Achieve Goal of Riding Sun-Spot Bus

Duluth Heights Community Looking Forward to New Rink

State and Local Leaders Discuss Efforts to Address Affordable Housing in Minnesota

St. Louis County Commissioner Beth Olson Won't Run Again

Walker Appointee, Judge, Prof Face Off in High Court Primary

Minnesota House GOP Proposes Crackdown on Urban Crime

Advertisement