NEWS Desk Global
CBO ESTIMATES $1.8 TRILLION US DEFICIT FOR FISCAL 2024
The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays rose for Social Security, Medicare and health insurance tax credits.
The estimate, which precedes the U.S. Treasury Department's year-end budget later this month, shows a deficit up 11% from the $1.7 trillion fiscal 2023 gap but slightly lower than the $1.9 trillion deficit estimated in June by CBO.
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