The United States posted a primary budget deficit of 3.3% of GDP in fiscal 2024, the highest among advanced economies, according to CryptoBriefing. That measure excludes interest payments. Including interest costs, the total federal budget deficit reached $1.8 trillion, equal to 6.4% of GDP. The Congressional Budget Office projects the primary deficit ratio will remain between 3.1% and 3.6% over the long term. Structural spending pressures and rising debt-interest costs have kept the fiscal gap wide even during an economic expansion. The figures highlight a persistent imbalance in U.S. federal budgeting, with the primary deficit staying elevated well beyond a typical downturn path. The report was relayed by Techub News.
According to CryptoBriefing, the United States recorded a primary budget deficit of 3.3% of GDP in fiscal 2024. The primary measure excludes interest payments. By that yardstick, the U.S. ranked first among developed economies. The broader federal deficit, including interest, reached $1.8 trillion, equivalent to 6.4% of GDP.
The Congressional Budget Office projects the primary deficit will remain between 3.1% and 3.6% of GDP over the long term. Structural spending pressure and climbing debt-interest costs have kept the fiscal gap wide even while the economy is expanding.
Techub News relayed the report.
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