CBO projects $1 trillion in federal deficits indefinitely

The federal budget deficit will exceed $1 trillion indefinitely, the Congressional Budget Office estimated Tuesday.

The agency, Congress’ nonpartisan group of budget experts, said in its annual report on the budget that the annual deficit would rise to $1 trillion in fiscal year 2020, up from $984 billion the year before, and then rise in future years to roughly $1.7 trillion in 2030.

It also projected that the federal debt, which represents accumulated deficits, will reach 180% of the Gross Domestic Product by 2050, by far the highest percentage recorded in the United States.

The long-term projections for the
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