America’s debt will be more than 100% of U.S. gross domestic product by later this year, the Congressional Budget Office projects.

The Congressional Budget Office expects the U.S. federal deficit to rise more over the coming years than previously expected, a release by the agency showed Wednesday.

Feb. 11 (UPI) --The nation's debt and federal deficit likely will become unsustainable and worsen by trillions of dollars over the next 10 years, the Congressional Budget Office reported on Wednesday.

CBO projects that the shortfall will deepen in 2026 to $1.853 trillion, slightly more than 2025’s $1.775 trillion deficit. Looking further down the road offers a similarly concerning trajectory. Over ...

The federal budget gap narrowed more sharply than forecasters anticipated in November, offering a rare piece of good news in a fiscal landscape still dominated by red ink. The monthly shortfall came ...