SumabilitySum It Up - Your AI for Content Curation. 🤖

Feedback

Bug Report
Feature Request

Twitter page

Topics

AI 🤖Business 💼Cryptocurrency 💰Economy 🏛️Politics 🥸Stock Markets 🤑Technology 🛠️

Posted 9/18/2023, 12:04:58 AM

CBO Forecasts Growing Budget Deficits Over Next Decade, Reaching $2.9 Trillion By 2033

CBO projects $1.7 trillion budget deficit for 2023, 13% higher than previous estimate
Deficit expected to remain between $1.6 - $1.8 trillion through 2027
Deficit projected to reach $2.9 trillion in 2033
Economic growth alone won't be enough to bridge deficit gap
Policymakers need to make choices on spending cuts or revenue increases

dailyhodl.com

Relevant topic timeline:

9/1/2023

Moody's lifts 2023 U.S. growth forecast, cuts China's for 2024

Credit rating agency Moody's has raised its 2023 U.S. economic growth forecast to 1.9% while cutting its estimate for China, citing mounting challenges for the latter, including weak business and consumer confidence and an aging working population.

9/4/2023

Italy sees 2023 deficit above target due to home incentives, sources say

Italy is planning to exceed its targeted budget deficit for 2023, due to costly fiscal incentives for home improvements, which are expected to impact the country's state finances and potentially lead to further deviations from targets in the future.

9/4/2023

US deficit is projected to roughly double this year: watchdog

The U.S. federal deficit is projected to double this year to around $2 trillion, largely due to higher interest rates, lower tax revenue, and increased Social Security and Medicare costs.

9/4/2023

Biden boasts about cutting federal budget deficit -- as it soars

Despite President Biden's claims of cutting the federal budget deficit by $1.7 trillion, in reality, the deficit is projected to hit $2 trillion this year, with government spending remaining high and the reduction in the deficit primarily due to the expiration of COVID-19 emergency spending.

Home
Cryptocurrency 💰