Q:

Is the national debt projected to be greater this year than it was last year?

A:

Quick Answer

The Congressional Budget Office projects the U.S. federal government to operate with a $426 billion budget deficit in 2015, causing the national debt to increase compared to its 2014 levels. The U.S. federal debt exceeded $18 trillion for the first time in 2015, reports Forbes.

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Is the national debt projected to be greater this year than it was last year?
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Full Answer

As of March 2015, the CBO projected a $486 billion federal budget deficit for 2015. The office revised that figure downward to $426 billion in August 2015. Investopedia explains that the national debt continues to increase as long as the federal government operates at a deficit. Thus, although the CBO projects a lower budget deficit in 2015 than in 2014, the office still expects the national debt to increase given that projection.

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