NPR

$1 Trillion Deficits To Return, National Debt To Rise, Projects CBO

The nonpartisan Congressional Budget Office released its first 10-year economic outlook to factor in the GOP's 2017 tax cuts and a recent two-year spending deal.

As the House prepares to vote this week on a largely symbolic balanced-budget amendment to the Constitution, its own budget watchdog delivered a stark reality check Monday that forecasts the return of $1 trillion-plus annual deficits and a ballooning public debt that will approach $29 trillion by the end of the next decade.

"If current laws governing taxes and spending, "with accumulating deficits driving debt held by the public to nearly 100 percent of GDP by 2028."

You're reading a preview, sign up to read more.

More from NPR

NPR3 min read
A Puppeteer Gets Swept Up In Political Theater In 'Kingdom For A Stage'
In her new book, Heidi Heilig continues the tale of family, rebellion and necromancy begun in For a Muse of Fire. Heilig tackles difficult issues deftly, and sets up readers for a rousing conclusion.
NPR4 min read
'Exalting The Banal To The Monumental' Through California Skate Parks
The state that gave birth to modern skateboarding is home to concrete playgrounds that are works of art in the eyes of photographer Amir Zaki: "They become more imaginative and open as spaces."
NPR2 min read
La Santa Cecilia: 'We Are As American As Apple Pie And Tacos'
The Grammy Award-winning group's self-titled album is packed with political messaging and brims with hope.