2024 Us Budget Deficit. In cbo’s projections, the federal budget deficit in fiscal year 2024 is $1.9 trillion. According to the congressional budget office (cbo), the budget deficit will rise from $1.6 trillion, or 5.6% of gdp, in fiscal year 2024 to $2.6 trillion, or 6.1% of.

1, the federal deficit reached $510 billion, up $89 billion, or 21% from the year ago period. The unified deficit and even the cyclically adjusted deficit will approach 6% of gdp within 10 years.