New Report Says Ukraine Aid, Student Loan Bailouts Will Push Federal Budget Deficit to $2 Trillion This Year

‘This November, America’s fiscal and economic future is on the ballot,’ one observer says.

AP/Susan Walsh
President Biden and the education secretary, Miguel Cardona, at the White House. AP/Susan Walsh

A troubling report from the Congressional Budget Office is forecasting that this year’s budget deficit will hit $2 trillion, an increase of $408 billion since the CBO’s estimates in February. 

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