Budget Projections
Latest
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CBO Estimates Medicare Coverage of Weight-Loss Drugs
In a much-anticipated release, the Congressional Budget Office (CBO) published projections estimating it would cost Medicare an additional $35 billion...
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CBO Estimates 2024 Deficit Totaled $1.8 Trillion
The Congressional Budget Office (CBO) released its estimate of the Fiscal Year (FY) 2024 budget deficit in its Monthly Budget Review, showing a $1.8...
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How Will GDP Numbers Affect Debt Outlook?
Recently revised data from the Bureau of Economic Analysis shows that Gross Domestic Product is about 1.3 percent larger than previously reported and...
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The 12-Month Rolling Deficit Totals $2.1 Trillion in August 2024
From September 2023 through August 2024, the federal budget deficit totaled $2.1 trillion based on estimates from the Congressional Budget Office (CBO...
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Interest, Social Security, and Health Responsible for Nearly 90% of Spending Growth
In the latest Congressional Budget Office (CBO) baseline, nominal spending is projected to grow from $6.8 trillion in Fiscal Year (FY) 2024 to $10.3...
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12-Month Rolling Deficit Mostly Unchanged After July 2024
The federal budget deficit totaled $1.6 trillion over the 12 months between August of 2023 and July of 2024 based on estimates released today by the...
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CBO's June 2024 Budget and Economic Outlook
The Congressional Budget Office recently released its June 2024 Update to the Budget and Economic Outlook. This report updates the February 2024...
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Meeting Fiscal Goals Under CBO’s June 2024 Baseline
It would require nearly $10 trillion of deficit reduction to stabilize debt at its current share of the economy over the next decade, according to the...
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12-Month Deficit Decreases to $1.6 Trillion in June 2024
The federal budget deficits totaled $1.6 trillion over the past 12 months, including the $73 billion June deficit released today by the Congressional...
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Debt Surges With Extensions
Based on new estimates from the Congressional Budget Office (CBO), debt could reach 132 percent of Gross Domestic Product (GDP) by Fiscal Year (FY)...
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Tim Penny & David Minge: Taxes increasingly paying for the past - not the future
Tim Penny is co-chair and David Minge is a an emeritus board member of the Committee for a Responsible Federal Budget. Both are former representatives...
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Trust Fund Solvency Could Stabilize the Debt
Restoring solvency to the major trust funds could stabilize debt as a share of the economy, albeit at a very high level. We estimate that when dynamic...