Group 1 - The core viewpoint is that the U.S. federal budget deficit is projected to be nearly $1 trillion higher over the next decade than previously estimated by the Congressional Budget Office (CBO) due to tax and spending legislation and tariff policies [1] - The cumulative deficit from FY 2026 to FY 2035 is expected to reach $22.7 trillion, compared to the CBO's earlier estimate of $21.8 trillion [1] - The CBO will not release a mid-year budget update this year, instead opting to publish the next 10-year budget and economic outlook in early 2026 [1] Group 2 - The CRFB estimates that the "Big and Beautiful" legislation will increase the deficit by $4.6 trillion over the next decade, but this will be largely offset by $3.4 trillion in new tariff revenue from Trump's current tariff policies [2] - New regulations limiting Medicare subsidy eligibility are expected to reduce the deficit by an additional $100 billion by 2035, along with a potential $100 billion savings from the cancellation of funding for foreign aid and public broadcasting [2] - Net interest payments on U.S. debt are projected to total $14 trillion over the next decade, rising from nearly $1 trillion in 2025 (3.2% of GDP) to $1.8 trillion by 2035 (4.1% of GDP) [2] Group 3 - In a more pessimistic scenario, if the Court of International Trade upholds Trump's new tariffs, the expected tariff revenue could decrease by $2.4 trillion over the next decade [2] - The extension of temporary tax cuts in the "Big and Beautiful" legislation could increase the deficit by $1.7 trillion over ten years [3] - The CRFB warns that the debt-to-GDP ratio by 2035 could rise to 120% in the baseline scenario and 134% in a negative scenario, compared to the CBO's earlier estimate of 118% [3]