Us Budget Deficit 2024. The projected $1.5 trillion federal budget deficit for 2024 is $188 billion less than the shortfall recorded last year. Federal spending decreased by 8.4% in fy 2023, the second year of decreased spending since a record high in fy 2021.

The unified deficit and even the cyclically adjusted deficit will approach 6% of gdp within 10 years. The congressional budget office estimated on tuesday a u.s.