The Congressional Budget Office (CBO) today released a new report on the Budget and Economic Outlook. CBO reports that the fiscal outlook is dramatically worse than it was last year, primarily due to the fiscally irresponsible tax legislation and budget deal that were enacted within the past few months.
In the new report, CBO projects that:
- The budget deficit is projected to total $804 billion this year — $139 billion higher than it was in 2017. It will exceed $1 trillion in 2020 and is projected to remain above that amount throughout the 10-year period.



Read our full analysis of CBO’s "The Budget and Economic Outlook: 2018 to 2028.”
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Further Reading
What Is the Primary Deficit?
The primary deficit is the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.
What Is the National Debt Costing Us?
Programs that millions of Americans depend on and care about may be feeling a squeeze from interest costs on our high and rising national debt.
Poll: Voters Don’t Want New Legislation or Tax Cuts that Increase the National Debt
This year, President Trump and the new Congress face a series of high stakes fiscal policy decisions.