Fiscal Deficit Budget 2024. The fiscal deficit target is about 200 basis points below the earlier estimates; Projections at a glance the federal budget the deficit totals $1.6 trillion in fiscal year 2024, grows to $1.8 trillion in 2025, and then returns to $1.6 trillion by 2027.

Budget deficit reached $1.897 trillion for the first 11 months of the 2024 fiscal year, the treasury department said on thursday, as annual interest costs on the public debt topped $1. Revenues were $420 billion (or 11 percent) higher and outlays were $793 billion (or 14 percent) higher from october through.