In fiscal year 2024, which ended on September 30, the federal budget deficit totaled $1.8 trillion—an increase of $138 billion (or 8 percent) from the shortfall recorded in the previous year.
In response to a request from Senator Grassley, CBO provides information about how enacting H.R. 82, the Social Security Fairness Act of 2023, would affect Social Security’s finances over the next 75 years.
