US Federal Deficit Hits $1.8 Trillion in FY2025, CBO Estimates

The budget shortfall equals 6% of GDP, ranking as the fourth-largest in US history outside major crises.

Summary

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Terms & Concepts
  • Federal Deficit: The shortfall that occurs when a government's annual expenditures exceed its annual revenues.
  • GDP (Gross Domestic Product): The total monetary value of all finished goods and services produced within a country's borders in a specific time period.