Financial Times: The Congressional Budget Office on Wednesday raised its estimate of cumulative deficits to the end of 2035 by 6 per cent, compared with a previous forecast in January 2025, following the implementation of the president’s sweeping tax and spending bill and his immigration policies.
It said the annual deficit would rise from $1.9tn this year to $3.1tn by 2036, pushing federal debt levels beyond their second world war record as soon as 2030.
“Our budget projections continue to indicate that the fiscal trajectory is not sustainable,” said CBO director Phillip Swagel…