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Federal Budget Deficit

All articles tagged with #federal budget deficit

finance1 year ago

"US Debt Surge Alarms Investors Amid Election Concerns"

Bond investors are increasingly concerned about the growing U.S. federal budget deficit, projected to rise from $1.6 trillion in 2024 to $2.6 trillion by 2034, and its impact on the Treasury market. Despite reassurances that a debt crisis isn't imminent, shifts in demand for U.S. bonds and the Federal Reserve's reduction in bond holdings are causing some investors to favor short-term debt. The high interest rate environment has led to federal interest payments surpassing spending on defense and Medicare.

via Fox Business|
#bond-market#federal-budget-deficit#federal-reserve
economy1 year ago

"CBO Projections: US Deficit Set to Soar Over Next Decade"

The Congressional Budget Office projects that the federal budget deficit will soar to over $2 trillion per year in the next decade, with deficits exceeding $2 trillion annually after 2031. As a percentage of GDP, the deficit is expected to rise from 5.6% in 2024 to 6.1% in 2034. The report highlights the significant impact of net interest costs on the deficit, emphasizing the need for Congress to take meaningful steps to control the deficit and put the national debt on a more fiscally sustainable trajectory.

via Fox Business|
#congressional-budget-office#economy#federal-budget-deficit
economy2 years ago

"U.S. Treasury Report Reveals Soaring $1.7 Trillion Deficit Amidst Rising Social Security and Health Costs"

The US federal budget deficit for the 2023 fiscal year has reached $1.7 trillion, nearly double the previous year's deficit, due to slumping tax receipts, rising interest rates, and ongoing demand for expiring pandemic relief benefits. However, accounting adjustments related to a student loan forgiveness program proposed by President Biden last year artificially reduced this year's deficit. The widening gap between government spending and earnings comes at a challenging time as Congress debates federal spending levels and the Biden administration seeks aid for Israel and Ukraine. Concerns are growing about the sustainability of the current borrowing path, with the national debt surpassing $33 trillion and interest costs projected to become the nation's largest expenditure within three decades.

via The New York Times|
#economy#federal-budget-deficit#fiscal-outlook
politics2 years ago

"Yellen Urges Congress to Raise Debt Ceiling Amid Uncertainty Over Treasury's Cash Reserves"

The Congressional Budget Office has said that the US government can avoid default in July if the Treasury can make it through the June cash crunch. The CBO report warned that there is still a risk of default in the first few weeks of June if the debt limit remains unchanged. The report also raised the federal budget deficit projection for 2023 to $1.5 trillion, citing uncertainty around the figure due to an expected Supreme Court ruling on President Joe Biden's student loan forgiveness plan. The White House and congressional leaders postponed a scheduled Friday meeting to continue negotiations over a deal to cut spending and pair that with a debt limit hike.

via CNBC|
#congressional-budget-office#debt-ceiling#federal-budget-deficit