The Congressional Budget Office (CBO) has increased its 2024 US budget deficit forecast by 27% to nearly $2 trillion, highlighting significant federal borrowing. The deficit is now projected at $1.92 trillion, up from $1.69 trillion in 2023, due to additional spending and student-loan relief measures. The CBO also predicts faster growth and higher inflation, with the Federal Reserve expected to delay interest rate cuts until early 2025.