CBO: Federal Deficits and Debt to Worsen over Next Decade

The nonpartisan Congressional Budget Office’s 10-year outlook projects worsening long-term federal deficits and rising debt, driven largely by increased governmental spending, notably on Social Security, Medicare and debt service payments.

Compared with the CBO's analysis this time last year, the fiscal outlook has deteriorated modestly.

Major developments over the last year are factored into the latest report, released Wednesday, including Republicans’ tax and spending measure known as the "One Big Beautiful Bill Act," higher tariffs and the Trump administration's crackdown on immigration, which includes deporting millions of immigrants from mainland U.S.

Please select this link to read the complete article from The Associated Press.