"One Big Beautiful Bill Act', higher tariffs and immigration crackdown are factored into the report. The nonpartisan Congressional Budget Office's 10-year outlook projects worsening long-term United States federal deficits and rising debt, driven largely by increased spending, notably on Social Security, Medicare, and debt service payments. Compared with the CBO's analysis this time last year, the fiscal outlook, which was released on Wednesday, has deteriorated modestly."
"The CBO said that the deficit for fiscal 2026 President Donald Trump's first full fiscal year in office will be about 5.8 percent of GDP, about where it was in fiscal 2025, when the deficit was $1.775 trillion. But the US deficit-to-GDP ratio will average 6.1 percent over the next decade, reaching 6.7 percent in fiscal 2036 far above US Treasury Secretary Scott Bessent's goal to shrink it to about 3 percent of economic output."
The Congressional Budget Office's 10-year outlook projects worsening long-term U.S. federal deficits and rising public debt driven mainly by increased spending on Social Security, Medicare, and debt service. The fiscal 2026 deficit is projected at about 5.8 percent of GDP, with the decade average at 6.1 percent and a rise to 6.7 percent by fiscal 2036. Recent policy changes, including the One Big Beautiful Bill Act, higher tariffs, and immigration enforcement, raise projected deficits and debt. Projected debt held by the public climbs from 101 percent of GDP to 120 percent, while tariffs boost revenue but also raise near-term inflation.
Read at www.aljazeera.com
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