US Federal Budget Deficit to Increase in 2016 for ‘First Time Since 2009’

The federal budget deficit will increase in 2016, in relation to the size of the economy, for the first time since 2009, according to the report “Budget and Economic Outlook: 2016 to 2026”.

WASHINGTON (Sputnik) — The US federal government will face an increased budget deficit in this year for the first time in seven years, the US Congressional Budget Office said in a report on Tuesday.

"In 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009," the report “Budget and Economic Outlook: 2016 to 2026” stated.

The Congressional Budget Office also noted that the deficit will grow to $561 billion in 2017 from $439 billion, and will reach $1.366 trillion by 2026.