Congressional Budget Office (CBO): The U.S. budget deficit is projected to be $1.865 trillion for fiscal year 2025, and $1.832 trillion for fiscal year 2024. Under current law, the U.S. public debt is expected to reach...

Congressional Budget Office (CBO): The projected U.S. budget deficit for fiscal year 2025 is $1.865 trillion, while the budget deficit for fiscal year 2024 is $1.832 trillion. Under current law, the U.S. public debt is projected to reach 99.9% of GDP by 2025 and rise to 118.5% in fiscal year 2035.