The nonpartisan Congressional Budget Office released its latest 10-year budget outlook, which projected the U.S. is on track to break a notable debt record in just four years.

The Congressional Budget Office (CBO) projected on Friday that the federal budget deficit would hit $1.9 trillion in fiscal year 2025. The nonpartisan budget scorekeeper estimated that federal spending would total $7 trillion during the fiscal year,

The US Congressional Budget Office (CBO) has projected that the federal budget deficit will decrease slightly to USD1.87 trillion for fiscal year 202