Kenna Jermaine

Us Fiscal Deficit 2024 By Year. Budget deficit reaches $1.8 trillion in 2024. The biden administration rang up a budget deficit topping $1.8 trillion in fiscal 2024, up more than 8% from the previous year and the third highest on record, the treasury.

Real gdp growth comes to a halt in 2023 and then. According to the congressional budget office (cbo), the budget deficit will rise from $1.6 trillion, or 5.6% of gdp, in fiscal year 2024 to $2.6 trillion, or 6.1% of gdp, in 2034.