CBO Estimates $1.8 Trillion Deficit for Fiscal Year 2025
OCT 8, 2025 BUDGETS & PROJECTIONS
Today, the Congressional Budget Office (CBO) released its estimate of the Fiscal Year (FY) 2025 budget deficit in its Monthly Budget Review, projecting that the deficit totaled $1.8 trillion in FY 2025.

The following is a statement from Maya MacGuineas, president of the Committee for a Responsible Federal Budget:

Amid a pointless and wasteful government shutdown, today we learned that the federal government borrowed $1.8 trillion in the fiscal year that ended last week.

While the deficit didn’t rise from last year, it didn’t fall either, and we continue to borrow far too much. Our national debt is about the size of the entire U.S. economy and will exceed its highest ever record as a share of the economy – set just after World War II – in short order. We are on track to borrow nearly $2 trillion per year for the next decade. How can anyone think this is sustainable?