Us Deficit 2024. Trump’s plans would both add to the deficit, but mr. According to the congressional budget office (cbo), the budget deficit will rise from $1.6 trillion, or 5.6% of gdp, in fiscal year 2024 to $2.6 trillion, or 6.1% of gdp, in 2034.
America’s federal budget deficit rose to $1.8 trillion in the 2024 fiscal year, reaching the highest level in three years, according to new congressional budget office estimates. After all, we haven’t had a balanced budget since early 2002, and yet the s&p 500 is up an annualized 9.6% since then.
