President Donald Trump waves to the crowd after arriving on Air Force One at Louisville International Airport in Louisville, Ky., Wednesday, Aug. 21, 2019. (AP Photo/Susan Walsh)
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The federal budget deficit is expected to balloon to more than $1 trillion in the next fiscal year under the first projections taking into account the big budget deal that President Donald Trump and Congress reached this summer, the Congressional Budget Office reported.The office Wednesday upped this year's deficit projection by $63 billion and the cumulative deficit projection for the next decade by $809 billion.The number crunchers at CBO projected that the deficit for the current fiscal year will come to around $960 billion. The CBO projects that the economy will expand more slowly, from 2.3 percent this year to 1.8 percent on average in the next four years.
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