"According to the Congressional Budget Office’s
estimates, this year’s deficit will be noticeably smaller
than what the agency projected in March, and fiscal year
2015 will mark the sixth consecutive year in which the
deficit has declined as a percentage of gross domestic
product (GDP) since it peaked in 2009. Over the next
10 years, however, the budget outlook remains much the
same as CBO described earlier this year: If current laws
generally remain unchanged, within a few years the deficit
will begin to rise again relative to GDP, and by 2025,
debt held by the public will be higher relative to the size
of the economy than it is now..."
Federal budget
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