The Congressional Budget Office on Tuesday released a revised projected federal budget deficit of $1.9 trillion for fiscal year 2024. That is an increase of about $400 billion from its February estimate the agency said. The CBO attributed the rise in the deficit to new spending passed since its last projection, including the $95 billion defense appropriations for the wars in Ukraine and Israel, as well as shoring up allied military preparedness in the Indo-Pacific region. Other large drivers of the increase are President Joe Biden making more eligible for student debt forgiveness, with a price…