A set of new budget estimates from the Office of Management and Budget (OMB) reveals that even if the President’s Budget were implemented in full, debt would still exceed its all-time high by the end of the decade.
The most recent projections from CBO confirm once again that America’s fiscal outlook is on an unsustainable path — increasingly driven by higher interest costs.
The Congressional Budget Office (CBO) updated its budget and economic projections, which now show that federal deficits are projected to be $2.1 trillion higher over the next decade than the agency projected just a few months ago.