Projections from the Congressional Budget Office
The US Congressional Budget Office
- Estimates that the deficit for fiscal year 2019 will be $896 billion, which is $1 billion less than the agency estimated in January.
- Esti,ate deficits averaging 4.3% of GDP in 2020 to 2029.
- They see public debt growing from 78% of GDP to 92% of GDP between 2019 and 2029.
- the governmentis projected to borrow an additional $12.7 trillion from the end of 2018 through 2029
The CBO is independent of the White House. There estimates tend to be more conservative vs the White Houses projections. For example, the CBO projects GDP at 2.3% in 2019. The White House sees 3% growth (in general and sometimes higher).
Below is the Actual and projected average deficits
