The “Committee for a Responsible Federal Budget,” a group advocating deficit reduction, revealed that the U.S. federal budget deficit will be about $1 trillion higher over the next decade than what the Congressional Budget Office projected last January. This increase is attributed to new tax and spending legislation and tariffs.
The cumulative deficit will reach $22.7 trillion for the period from fiscal year 2026 to 2035. The committee expects the deficit to hit $1.7 trillion in fiscal year 2025, equivalent to 5.6% of GDP, a slight decrease from $1.83 trillion in 2024. The committee noted that the deficit will steadily rise over the decade, reaching $2.6 trillion or 5.9% of GDP by 2035.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
