The U.S. is the only country among advanced economies where the public debt-to-GDP ratio is forecasted to go up, says Vitor Gaspar of the IMF.
The CBO projects the federal deficit will top a staggering $1 trillion in the next two years, and debt could equal GDP within a decade.
Asian markets closed mostly lower on Tuesday after China reported that first-quarter GDP growth topped expectations.
A trade war would have serious consequences for global GDP growth, but Olam's strategic business model has placed the company in a stable position, said Sunny Verghese, the CEO of Olam International.
China reported its first-quarter 2018 GDP figures on Tuesday.
China's better-than-expected retail sales and overall GDP are on track, but some moderation is expected later in the year, says David Fernandez of Barclays.
Sian Fenner of Oxford Economics explains why she sees first quarter GDP from China at 6.6 percent, a bit below other forecasts.
Federal officials at their most recent meeting saw an economy growing at a strong pace and inflation moving up as well.
The Portuguese government is forecasting a budget surplus of 0.25 percent of gross domestic product (GDP) for 2020.
The CBO estimated the cumulative deficit over the next decade will be $1.6 trillion larger than previously projected. By 2028, national debt would total 96 percent of GDP.