The CBO said it expects interest rates to continue to rise, as well as slower growth in the gross domestic product for the rest of this year and unemployment reaching 4.7% by the end of 2024. Skip ...

The Congressional Budget Office on Wednesday projected that the ... more than triple the shortfall recorded in fiscal year 2019.The anticipated deficit would be 16% of gross domestic product, ...

Congressional Budget Office (CBO) ... In regard to the next 10 years, he said the deficit is projected to grow to 6.9 percent of gross domestic product (GDP) in 2033, ...

Phillip Swagel, director of the Congressional Budget Office, ... According to the CBO, U.S. federal debt totaled $26.2 trillion at the end of 2023, about 97% of gross domestic product.

Earlier this year, the CBO projected that federal budget deficits are expected to average $1.9 trillion, or about 5.4% of gross domestic product (GDP), over the next 10 years, well above the 50 ...

The Congressional Budget Office released an economic ... the accumulated federal debt will likely continue to grow over the next decade to be equal to roughly 110% of U.S. gross domestic product.

Congressional Budget Office raises federal ... The report also projects that the nation’s publicly held debt is set to increase from 99 percent of gross domestic product at the end of 2024 to ...

Federal spending, currently 21% of gross domestic product, will rise to 31% by 2050, with most of that increase coming from interest payments on the rising debt, said CBO Director Phillip L. Swagel.

The government’s publicly-held debt currently totals 77 percent of the U.S. gross domestic product (GDP). The CBO found that number would soar to 150 percent of GDP by 2047.