The federal deficit clocked in at $1.8 trillion for fiscal 2024, according to the final estimate released Tuesday by the Congressional Budget Office.
While generally in line with prior forecasts, the slightly revised deficit estimate was $81 billion, or 4 percent, smaller than the last CBO projection made in June. Revenue was slightly higher and spending slightly lower than the June forecast.
The official deficit tally will come from the Treasury Department and Office of Management and Budget later this month, but the CBO estimate usually closely mirrors the administration’s figure.
