CBO report shows higher long-term deficits The national debt is on track to nearly double over the next three decades, the Congressional Budget Office said Thursday, highlighting a challenge for the Trump administration, which has yet to propose any policies to lower deficits. President Donald Trump has signaled he intends to pursue policies that may in fact drive deficits even higher. The CBO’s annual report shows the federal debt, would reach 150% of GDP in 2047. (The Wall Street Journal)