WASHINGTON DC (February 20, 2020) — According to the Office of Management and Budget (OMB), the President’s Fiscal Year (FY) 2021 budget would reduce debt from 80 percent of Gross Domestic Product (GDP) today to 66 percent by 2030 and reduce deficits from $1.1 trillion (4.9 percent of GDP) in 2020 to $261 billion (0.7 percent) in 2030.








