Projected Us Budget Deficit 2024. Budget deficit is projected this year to come in slightly smaller than last year, the congressional budget office estimated wednesday, at about $1.6 trillion. The cj includes agency priorities, requested budget levels and performance plans (in accordance with the government performance and results act).
From 2024 to 2034, total outlays are projected to average 23.4 percent of gdp, while total revenues are projected to average only 17.7 percent of gdp. For the period from october 2023 through december 2023, the budget deficit totaled just shy of $510 billion, following a shortfall of $129.4 billion in december alone.
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