$12.2 trillion

The CBO says federal deficits are projected to grow much more than expected over the next decade thanks to the two-year budget agreement lawmakers and the White House struck last month, the Wall Street Journal reports. “The agency increased its forecasts for deficits over the next decade by $809 billion, to $12.2 trillion… The increase primarily reflects higher federal spending under the new budget deal, partly offset by lower projected interest rates.”

Connect: