Jan. 28 (UPI) -- The U.S. budget deficit is projected to surpass $1 trillion this year, the first time it's hit that milestone since 2012, the Congressional Budget Office said Tuesday.
The office said the deficit will likely hit $1.02 trillion in 2020. It will average $1.3 trillion each year between 2021-30, representing about 5.4 percent of the GDP.