The American federal budget is increasingly falling into deficit. According to updated estimates from the Congressional Budget Office, the projected deficit for the U.S. federal budget in 2024 will amount to $1.9 trillion, which is $0.4 trillion, or 27%, higher than expected in February. By 2034, the deficit will increase to $2.9 trillion, which is $0.3 trillion above February's expectations. Budget revenues are expected to be around $4.9 trillion in 2024, growing to $7.5 trillion by 2034. Expenditures will amount to $6.9 trillion this year and will rise to $10.3 trillion by 2034