![The U.S. deficit is nearly as big a Russia’s economy, and there’s a ‘vicious’ feedback loop that could make it worse](https://fortune.com/img-assets/wp-content/uploads/2024/06/GettyImages-1387175767-e1719780528102.jpg?w=2048)
The U.S. deficit is nearly as big a Russia’s economy, and there’s a ‘vicious’ feedback loop that could make it worse
FortuneThe CBO’s new estimate for the fiscal 2024 deficit is now $1.9 trillion, up from its prior view for $1.6 trillion issued in February and up from the 2023 deficit of about $1.7 trillion.