2024 Us Budget Deficit. The federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2024, cbo estimates—$38 billion more than the deficit recorded during the same period last. Cbo projects a federal budget deficit of $1.9 trillion in fiscal year 2024, which would be larger than the 2023 deficit of $1.7 trillion.

Excluding the effects of shifts in the timing of certain outlays, the. That deficit would be larger, and the decrease would be smaller, if not for a shift in the timing of certain payments in both 2024 and 2023.