Still, the CBO said that the annual federal deficit — the difference between what the government spends and what it collects in tax revenue every year — is set to decline from…
- Jeff Stein, The Washington Post
- The Day
In 2021, America’s federal debt will reach about 102% of its gross domestic product, a slight increase from the year before.
Even without additional spending or tax cuts, that number is expected to grow to 107% of GDP by 2031 — which would be an all-time high in…