Us Budget Crisis 2024. The federal budget deficit was $857 billion in the first seven months of fiscal year 2024, the congressional budget office estimates—$68 billion less than the deficit recorded during the same period last fiscal year. This explainer was last updated on march 25, 2024.
Economic growth slows in 2024 as unemployment increases, partly as a result of tight monetary policy. The largest increases over the past 20 years have been for the major health care programs.