Budget Projections
Latest
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Interest Overtakes Kids' Spending
Interest on the debt is the fastest growing item in the federal budget, and in Fiscal Year (FY) 2023 the federal government will spend more on net...
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Meeting Fiscal Goals Under CBO's May 2023 Baseline
We estimate that it would take $16.0 trillion of deficit reduction to balance the budget over a decade, $3.5 trillion to stabilize debt at 110 percent...
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CBO Releases May 2023 Baseline
The Congressional Budget Office (CBO) today released new ten-year budget projections, again confirming that the national debt is on an unsustainable...
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CBO Scores the Limit, Save, Grow Act
Update (4/26/2023): The Congressional Budget Office released an estimate of the House Rules Committee amendments to the bill, reducing the savings of...
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Putting the Limit, Save, Grow Act in Context
The Limit, Save, Grow Act would reduce deficits by about $4.5 trillion over the next decade, with $3.2 trillion of those savings coming from caps to...
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Build Your Own Discretionary Budget
Each year, Congress must pass a new set of appropriations bills to fund the discretionary side of the budget and avoid a government shutdown. There...
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Extensions Would Wipe Away President's Deficit Reduction
We were very encouraged by the President’s call for $3 trillion of ten-year deficit reduction in his Fiscal Year (FY) 2024 budget proposal. However...
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House Freedom Caucus Proposes up to $3.7 Trillion in Savings for Debt Ceiling Vote
The House Freedom Caucus released today a proposal for the upcoming debt ceiling negotiations. Its members call for repealing the announced student...
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Maya MacGuineas: Is cutting the deficit by $3 trillion enough? Not even close
Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently wrote an opinion...
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An Overview of the President's FY 2024 Budget
Moments ago, the Biden Administration released its Fiscal Year (FY) 2024 budget proposal, outlining some of the President's tax and spending...
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81 Percent of Spending Growth Will Come from Health Care, Social Security, and Interest
The Congressional Budget Office (CBO) projects that budget deficits will double from $1.4 trillion in Fiscal Year (FY) 2023 to nearly $2.9 trillion by...
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What Would It Take to Balance the Budget? An Update
The analysis below updates our previous analysis "What Would It Take to Balance the Budget?" to account for the Congressional Budget Office's latest...