5.3% is very much still in line as a fairly ordinary deficit compared to many other countries in the world. A little towards the higher end, but not out of the ordinary by any means. The 2027 projection is a fair cause for concern, but the point of this report is explicitly to make sure the American budget doesn't head that way. To quote:
"CBO’s baseline budget projections are meant to provide a benchmark that policymakers can use to assess the potential effects of changes in policy; they are not intended to provide a forecast of future budgetary outcomes."