Donald Trump’s policies will expand the federal budget deficit by $1.4tn over the coming decade, Congress’s fiscal watchdog has warned, driving up public debt and leaving government finances on an unsustainable path.
The Congressional Budget Office on Wednesday raised its estimate of cumulative deficits to the end of 2035 by 6 per cent, compared with a previous forecast in January 2025, following the implementation of the president’s sweeping tax and spending bill and his immigration policies.
It said the annual deficit would rise from $1.9tn this year to $3.1tn by 2036, pushing federal debt levels beyond their second world war record as soon as 2030.