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,

New estimates from the Congressional Budget Office show continuing fiscal strain, despite steady economic growth.

The federal budget deficit swelled to $1.8 trillion in the fiscal year that ended in September, an enormous sum that significantly increases the national debt as Washington barrels toward a potential 2025 showdown over spending and taxes.