The nonpartisan Congressional Budget Office released its latest 10-year budget outlook, which projected the U.S. is on track to break a notable debt record in just four years.

The Congressional Budget Office (CBO) projected Friday that the federal budget deficit would hit $1.9 trillion in fiscal 2025. The nonpartisan budget scorekeeper estimated that federal spending would total $7 trillion during the fiscal year,

The Congressional Budget Office (CBO) released its latest projections for the budget and economic outlook today, projecting

The US government is on track to surpass record debt levels set after World War II in just four years, the Congressional Budget Office warned on Friday — even as it lowered somewhat its deficit projections for the next decade.

The fiscal situation is daunting, the debt trajectory is unsustainable,” Congressional Budget Office director Phillip Swagel said in a new 10-year outlook.