The new CBO projection is the first since President Donald Trump signed a tax cut that is expected to cost the government almost $1.9 trillion over 11 years, then signed legislation to significantly boost military and domestic spending over the next two years.
Republicans controlling Washington have largely lost interest in taking on the deficit, an issue that has fallen in prominence in recent years. The deficit will be US$804 billion for the current financial year, which ends on September 30, a big rise from the US665 billion deficit for fiscal 2017 and US$242 billion more than the CBO projected last (northern) summer.
However, the non-partisan CBO said the deficit - the difference between what the government spends and what it receives through tax receipts - is expected to rise to $804bn in 2018 from $665bn in the previous year.
Trump called the $1.3 trillion spending measure last month a "ridiculous situation" and said he only signed it to protect defense spending.
In 2011, Congress struck a much-criticized deal to force lawmakers to reduce deficits under threat of automatic cuts if spending caps were violated.
The CBO predicted a 3.3% advance this year for the US economy, the world's largest, but a drop to 2.4% in 2019.
At 11 years, the report covers a slightly longer time period than the usual 10-year projections, but even accounting for just the first decade, the figure remains around $1.9 trillion.
But the CBO suggests the administration's promise that the tax cuts would pay for themselves seems out of reach. "Most of this growth is driven by consumer spending and business investment, but federal spending also contributes a significant amount this year", Hall said.
To assuage conservative anger over the spending bill, House Republicans plan to hold a vote this week on a balanced budget amendment to the Constitution.
"The CBO's latest report exposes the scam behind the rosy rhetoric from Republicans that their tax bill would pay for itself", Schumer said in a statement Monday. While the benefits of tax reform should not be overlooked, including a projected high short-term GDP growth and low unemployment, the deficit and debt forecasts are daunting and need to be addressed.
"It's all hand-waving and conjecture: There's no grounding in valid economic principles that this is a debt crisis", said Stephanie Kelton, a left-leaning economics and public policy professor at Stony Brook University and a former economic adviser to Sen.
David Ferrer will face Kohlschreiber in the decider, with Spain eyeing a place in the semi-finals for the first time since 2012. Germany then took a 2-1 lead when Tim Puetz and Jan-Lennard Struff won the doubles rubber against Feliciano and Marc Lopez.
A two-year investigation found that important bearings in the $25 million machine failed, likely due to improper maintenance. Fort Campbell says they have been members of the 101st Fight Aviation Brigade, 101st Airborne Division (Air Assault).
Backpage's adult services listings carrying adverts from sex workers , which are purportedly the focus of criminal probes. They designated Backpage , mentioning dozens of circumstances in which minors had been trafficked via the website.
A man accused of stabbing a police officer has been killed in an alleged gunfight with the Detective Branch (DB) in Mymensingh. Police said an officer on patrol spotted the vehicle in the 700 block of Blenheim Street.
DeKalb told HLN last Thursday that Devonte and one of his sisters had said they were not being properly treated. Investigators are continuing their search Sunday and are in touch with family and friends, Baarts said.
Karen Truszkowski, an attorney for the plaintiff, said Tuesday that she had no further comment about the suit. She caught a taxi back to her dorm room and contacted university Counseling Center staff about a week later.
Trump accused Mexico of abetting and profiting from illegal immigration, which he pledged in his 2016 election campaign to halt. The president fired off several tweets on Tuesday about the caravan march toward the "Weak Laws" border of Mexico.
Roma sold Pjanic to their rivals, Juventus, in the summer of 2016 and a year later they sold Mohamed Salah to Liverpool. Obviously, it's an incredible team with incredible talent, not just Leo Messi by any means.
Apple's latest iPhones have a feature called 3D Touch that responds differently depending on different finger pressures. However, Intel will still be working on the iPhone, of which it proves over half the modems for each device.
The song previously closed an inter-Korean art performance in September 2002 and Samjiyon's performance in Seoul in February. Members of Red Velvet , one of South Korea's top K-pop groups, sang their hits " Bad Boy " and " Red Flavor ".
Blue Jays center fielder Kevin Pillar was 3-for-4 Sunday and is the only Blue Jays player to hit in all four games this season. Tuesday. "Any sports team, especially baseball , I think you just want to play", White Sox manager Rick Renteria said.
Global court warns Israel may be charged for Gaza deaths
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Amazon Key now available across the US
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Jail looms large for Brazil's Lula over graft
Workers' Party leaders promised demonstrations, including vigils that would be organised nationwide beginning on Friday. Temer took power in 2016 after da Silva's successor and protege, Dilma Rousseff, was impeached and ousted from office.
Cannes Film Festival to host global premiere of 'Solo
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Spotify's market value hovers at around $29B
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N. Korea on agenda of Trump-Abe meeting
The White House is opening the gates for its biggest social event of the year, the annual Easter Egg Roll . After se statements, White House lowered possibility of an imminent announcement about a meeting.
Mike Zunino placed on 10-day disabled list
The Indians doubled their lead when designated hitter Edwin Encarnacion led off the fourth inning with a solo home run. If a theme can be deduced from the Mariners first three games, it's that surprises could be in store on a daily basis.