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Deficits Return to Trillion-Dollar Levels by 2022

Created on February 4, 2014

Deficits Return to Trillion-Dollar Levels by 2022

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READ the original report, "New CBO Report: $514 Billion Deficit in 2014, Surging to Trillions by 2022."

According to the Congressional Budget Office, federal deficits will reach $1 trillion within eight years. The primary culprit is out-of-control federal spending, which is already above the historical average and is expected to rise drastically.

Keywords: federal, deficits, trillions, CBO, spending

Source: Congressional Budget Office, “The Budget and Economic Outlook: 2014 to 2024,” CBO baseline, February 4, 2014, http://www.cbo.gov/publication/45010 (accessed February 4, 2014).