Los Angeles Times

Budget office projects growing deficits and massive debt during Trump administration

WASHINGTON - Propelled by the GOP tax-cut plan and increased government spending favored by both parties, the nation's deficit will top $1 trillion by 2020 and its debt burden within a decade will approach rates not seen since the aftermath of World War II, the Congressional Budget Office said Monday.

The budget deficit next year will rise to $804 billion, or $139 billion higher than the estimates made before the $1.5 trillion tax plan and $1.3 trillion spending bill were signed into law by President Donald Trump in December and March, respectively.

The national debt will rise from nearly $16 trillion

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