The new ten-year budget projection from the Congressional Budget Office confirms what we already knew: The US fiscal trajectory is unsustainable under current law. Increasing mandatory spending and interest outlays combined with unfinanced tax cuts are pushing up longer-term deficit projections. The federal debt is projected to rise from 77% of GDP in 2017 to 96% in 2028 – despite a period of moderate economic growth. Any shortfall in economic growth would add to the already challenged outlook.

 

Report:

CBO budget outlook