- Sees 2022 deficit at $1.032 trillion, down $383 billion
- Forecasts 2023 deficit at $1.3 trillion, up $146 billion from March forecast
- Latest forecast includes inflation package and CHIPS bill
- Forecasts Q2 GDP at +1.4% y/y vs +3.8% prior
- CPI seen at 6.6% vs 2.9% in March
- Sees CPI at 2.8% in 2023 and 2.3% in 2024
I don't know if anyone puts much stock in these numbers but they're an idea where the US debt picture is headed. There will be plenty of people predicting the death of the US dollar on deficits but they have no idea what's happening in Europe and the collosal costs of the ongoing energy crisis.
Meanwhile, the US announced another $3 billion for Ukraine today so you can add that to the tally.
