Deficits as far as the eye can see
The US Congressional Budget Office sees the US deficit at $960 billion in fiscal year 2019, that's $63 billion higher than the previous forecast.
For the period from 2020-2029, they see deficits averaging $1.2 trillion and a cumulative $12.2 trillion compared to $11.4 trillion previously.
On growth, they see it a 2.3% this year versus the 2.5% prior forecast due to lower business fixed investment. They also say tariffs will cut 0.3 pp of GDP through next year.
Between 2020 and 2023,they forecast GDP growth averaging 1.8%.
