The Congressional Budget Office on Friday forecast a $1.865 trillion U.S. budget deficit for fiscal 2025, largely flat with last year and indicating no major deterioration in government finances before President-elect Donald Trump takes office on Monday.

President-elect Donald Trump has proposed trillions of dollars of tax cuts. JEFFERSON CITY, Mo. (AP) — President-elect Donald Trump has proposed trillions of dollars of tax cuts for individuals and businesses. In some states, governors and lawmakers are seeking to cut millions more.

The U.S. national debt is projected to surge by $23.9 trillion over the next decade, according to the Congressional Budget Office.

The national debt is slated to rise by $23.9 trillion over the next decade, a sum that does not include trillions of dollars in additional tax cuts being championed by President-elect Donald Trump

The United States is poised to add trillions of dollars to the national debt over the next decade as the mounting costs of social safety net programs and growing interest expenses dig the nation into a deeper fiscal hole,