Should Americans be worried about the US deficit?
The US budget deficit will surpass $1 trillion by 2020, two years sooner than previously estimated, according to the nonpartisan Congressional Budget Office.

The CBO's updated estimates are driven primarily by the recent $1.5 trillion Republican tax cut and the latest bipartisan budget bill passed by Congress, which increases spending by about $300 billion for the military and a variety of domestic programs.

Together, these measures are expected to increase economic growth in the short term, but many are concerned that they will cause a significant slow-down over the next decade as deficits balloon. This could force Congress to make steep cuts to defense and entitlement spending, and potentially precipitate a fiscal crisis.

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