3 ms·
In CBO’s projections, the federal budget deficit in fiscal year 2025 is $1.9 trillion. Adjusted to exclude the effects of shifts in the timing of certain paymen
by izend 2y ago
In CBO’s projections, the federal budget deficit in fiscal year 2025 is $1.9 trillion. Adjusted to exclude the effects of shifts in the timing of certain payments, the deficit grows to $2.7 trillion by 2035. It amounts to 6.2 percent of gross domestic product (GDP) in 2025 and drops to 5.2 percent by 2027 as revenues increase faster than outlays
https://www.cbo.gov/publication/60870 https://www.cbo.gov/publication/60870
IMO, 5%+ percent of gross domestic product (GDP) in a country with massive trade deficits is not sustainable.
- croemer 2y agoNominal GDP growth was 5% in December. As long as share of GDP is constant things are sustainable.
- kogus 2y agoDebt as a % of GDP is not constant, and is on track to grow "far beyond any previously recorded level", according to the Budget Office. [1] [1]https://www.cbo.gov/publication/61187 https://www.cbo.gov/publication/61187
- ojbyrne 2y ago"The budget projections are based on CBO’s economic forecast, which reflects developments in the economy as of December 4, 2024. They also incorporate legislation enacted through January 6, 2025." Out of date!