The Congressional Budget Office (CBO) released a new budget estimate that the deficit size increased from 5.6% to 7% compared with the estimated deficit ratio of $408 billion in February, which was much higher than the market median forecast of 5.8% CBO predicts that the deficit in fiscal year 2024 will reach 1.9 trillion US dollars, which is basically equivalent to the figure of 1.86 trillion US dollars released by the White House Budget Office. It also echoes the net US debt plan of about 1.92 trillion US dollars for the whole fiscal year given by the TBAC meeting at the end of April.