Washington The US budget deficit could shrink to $1 trillion this year from $2.8 trillion last year as federal spending on Covid-19 aid slows and the economy rebounds, the nonpartisan Congressional Budget Office said Wednesday.
Despite the reduction, the federal deficit remains"large by historical standards" and is expected to increase over the next decade, according to a statement from CBO Director Phillip Swagel. The CBO projects that the deficit will decrease again next year, but then increase to 6.1% of gross domestic product by 2032 -- significantly larger than the 3.5% of GDP that deficits have averaged over the past 50 years. The deficit has been greater than that only six times since 1946.
so less money n people will have to work harder to make little money. this scam is real genius.
Lol 100s of billions to Afghanistan and ukraine Certainly didn't help
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$1.9T COVID-19 relief advanced equity, boosted Black people and Hispanic people, report findsThe White House released a report Tuesday to show that President Biden’s $1.9 trillion pandemic relief measure of 2021, which is now being blamed for record-high inflation, has succeeded — especially by helping Black people and Hispanic people get jobs and keep their homes.
Source: WashTimes - 🏆 235. / 63 Read more »
Mackenzie Scott, ex-wife of Jeff Bezos, donates $1.1M to Harrisburg nonprofitScott has donated a million dollars or more to several nonprofit organizations in south-central Pennsylvania.
Source: PennLive - 🏆 463. / 53 Read more »
Allen paves way for $1.2M indoor playground at new rec centerAllen is getting an indoor playground along with its new recreation center.
Source: dallasnews - 🏆 18. / 71 Read more »
DEX protocol Uniswap hits $1 trillion cumulative trading volume milestoneUniswap announced that it passed $1 trillion in lifetime cumulative trading volume. Why no one talking about this?
Source: TheBlock__ - 🏆 464. / 53 Read more »
Crypto billionaire says he could spend a record $1 billion in 2024 electionDemocratic billionaire Sam Bankman-Fried says he could spend $1 billion or more in the 2024 election, which would easily make him the biggest-ever political donor in a single election. 🤡 You know what the conservatives try to do with these wealthy liberals. They all seem to be falling in line. The latest being Elon “could”
Source: NBCNews - 🏆 10. / 86 Read more »
Xcel Agrees To Nearly $1 Million EPA Fine Over Coal Ash Storage At Problem-Plagued Comanche Power PlantThe Environmental Protection Agency (EPA) announced Monday a settlement reached with Public Service Company of Colorado (PSCo) that will result in a $925,000 fine and requirements for increased monitoring and data gathering at the Comanche power plant near Pueblo.
Source: CBSDenver - 🏆 612. / 51 Read more »