On the 8th local time, the U.S. Congressional Budget Office stated that the U.S. federal budget deficit for fiscal year 2025 is $1.8 trillion, a decrease of $8 billion from the deficit in fiscal year 2024.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a U.S. think tank, said in a statement that the scale of U.S. debt is roughly equivalent to the entire U.S. economy, and its share of the economy will soon exceed historical highs. She stated that over the next decade, the U.S. will borrow nearly $2 trillion annually.
The U.S. federal budget deficit for fiscal year 2025 is $1.8 trillion
