Federal deficit estimated at $984B, highest in seven years

The federal budget deficit for 2019 is now the highest in seven years, coming in at an estimated at $984 billion.

That comes to 4.7 percent of gross domestic product.

The Congressional Budget Office released the numbers on Monday.

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The deficit has only passed $1 trillion four times, right after the period following the global financial crisis, according to The Hill.

The deficit is $205 billion higher than it was in 2018, a jump of 26 percent.

The CBO has warned that the nation's debt is on an unsustainable path.

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Budget watchers note that the main drivers of the deficit, however, come from automatic spending programs such as Social Security, Medicare and Medicaid.