The federal budget deficit is projected to reach 120 percent of GDP by 2036, and 175 percent by 2046, due to a combination of tax cuts and increased spending, requiring both tax increases and benefit reductions to address the issue.
EconomyNorth America
A bipartisan summit is the best way to address debt, make Social Security solvent
The Hill
June 5, 2026 at 5:00 PM
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The federal budget deficit is projected to reach 120 percent of GDP by 2036, and 175 percent by 2046, due to a combination of tax cuts and increased spending, requiring both tax increases and benefit reductions to address the issue.