Current Fiscal Year 2024. The fiscal position continues to strengthen with a primary surplus of 1.8 percent of gdp achieved. In cbo’s projections, the federal deficit totals $1.4 trillion in 2023 and averages $2.0 trillion per year from 2024 to 2033.

In cbo’s projections, the federal budget deficit in fiscal year 2024 is $1.9 trillion. It’s used differently by the government and businesses, and does need to correspond to a.