- Sees 2024 fiscal deficit at $1.915 trillion
- FY 2025-34 deficit seen at $22.083 trillion, up 10% from Feb forecast
- 2024 real GDP seen up 2.0% vs 1.5% in Feb
- 2025 GDP seen at 2.0% vs 2.2% in Feb
- Sees 2024-34 avg GDP growth at 1.8%
- 2024 deficit higher due to outlays on student loans, bank resolutions, Ukraine/Israel aid and Medicaid
- Legislation, including Israel/Ukraine aid to add $1.6 trillion to deficits through 2034
What happens if/when there is a recession or huge layoffs due to AI?
