Balancing federal budget in 10 years could require 41 percent cut to programs, when excluding Social Security: CBO

The Congressional Budget Office released an analysis of what achieving a balanced budget in the next 10 years would mean for federal programs.

The report comes as Democrats have sought to hammer Republicans over proposals to balance the budget in a decade through potentially steep cuts to spending.

The nonpartisan budget scorekeeper said its current baseline projections show the nation’s federal budget deficit would reach $2.9 trillion in 2033.

When not factoring in the extension of the tax cuts, the CBO projected that all noninterest outlays would have to be reduced by 41 percent to achieve a balanced.