Federal Deficit $1.8T, 5.8% of GDP

The CBO published its updated Budget and Economic Outlook report quantifying the federal deficit at $1.8 trillion for fiscal year 2025, equivalent to 5.8% of gross domestic product. The report analyzes revenue of approximately $4.9 trillion against outlays of $6.7 trillion, noting that debt held by the public will reach approximately 100% of GDP by year-end.

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