Comment on CBO: U.S. budget deficit to balloon on Republican tax cuts, economic growth projected higher than initially expected

CBO: U.S. budget deficit to balloon on Republican tax cuts, economic growth projected higher than initially expected

WASHINGTON — The U.S. budget deficit will balloon over the next few years mainly because of deep tax cuts approved in December by Republicans in the U.S. Congress and President Donald Trump, the nonpartisan Congressional Budget Office said on Monday.Despite stronger-than-predicted economic growth ahead, the CBO said the deficit will grow to $804 billion in fiscal 2018, which ends on Sept.

 

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