"New Biden-McCarthy Deal to Curb U.S. Debt Growth by $1.4 Trillion, CBO Projections Show"
A new report by the Congressional Budget Office indicates that the Biden-McCarthy deal to limit spending growth will reduce the federal deficit by approximately $1.4 trillion over the next decade. While the national debt is still projected to increase substantially, the deal has helped slow its growth. However, concerns remain about the nation's fiscal health, as the total debt is expected to reach $45.7 trillion by 2033, and Congress's intention to maintain the spending caps is uncertain.