The deficit could reach $1 trillion this year, according to the Office of Management and Budget (OMB), which released its annual mid-session review on Friday.
The nonpartisan Congressional Budget Office (CBO) released its 2019 Long-Term Budget Outlook, highlighting the significant fiscal challenges facing our nation.
CBO estimates that the national debt would climb from 78% of gross domestic product (GDP) in 2018 to 87% of GDP by 2029 under the president's policies.