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CBO: Deficit to Grow More Than Economy for First Time Since 2009

The federal deficit will grow larger than the economy this year for the first time since 2009, according to the Congressional Budget Office.

This year’s deficit will be $544 billion, $105 billion more than last year’s deficit, the CBO said in a release.

The CBO says if current laws aren’t changed, the deficit could grow significantly over the next 10 years. 

“If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years,” the CBO said.