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Budget Deficit Primed to Grow

Created on October 9, 2014

Budget Deficit Primed to Grow

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Read the original report, "The 2014 Deficit Is the Smallest In Six Years. But Here’s the Bad News," by Romina Boccia.

The Congressional Budget Office projects the federal budget deficit will increase significantly over the next ten years. Its baseline projection shows a deficit of nearly $1 trillion by 2024, and the alternative fiscal scenario, generally a more realistic projection, shows the deficit exceeding $1.25 trillion.

Source: Congressional Budget Office, Updated Budget Projections: Fiscal Years 2014 to 2024, August 2014, http://www.cbo.gov/publication/45653 (accessed September 17, 2014).

Tags: Congressional-Budget-Office, deficit, baseline