Budgets & Projections
Latest
-
Record Interest Next Year, Record Debt Projected in Just 3 Years
Read moreThe Congressional Budget Office (CBO) released its Update to the Budget and Economic Outlook today, projecting that the national debt will set a new...
-
CBO Estimates $1.2 Trillion Deficit for First Eight Months of Fiscal Year
Read moreThe United States borrowed $1.2 trillion in the first eight months of fiscal year 2024, including $348 billion in May, according to the latest Monthly...
-
Deficit Totaled $1.7 Trillion Over the Past Year
Read moreThe federal budget deficit totaled $1.7 trillion over the past 12 months, incorporating the $348 billion May deficit estimated by the Congressional...
-
Debt Surges With Extensions
Read moreBased on new estimates from the Congressional Budget Office (CBO), debt could reach 132 percent of Gross Domestic Product (GDP) by Fiscal Year (FY)...
-
Interest Costs Just Surpassed Defense and Medicare
Read moreIn the first seven months of Fiscal Year (FY) 2024, spending on net interest has reached $514 billion, surpassing spending on both national defense (...
-
Tax Cut Extensions Could Cost $4 Trillion or More
Read moreAccording to new Joint Committee on Taxation (JCT) estimates published by the Congressional Budget Office, extending the expiring or changing elements...
-
Introducing the CRFB Debt Thermometer
Read moreFiscal policy has profound consequences on the economic health and national security of the country. Yet little is done to track the effects of...
-
Interest Rates Surge Near Record Highs
Read moreInterest rates are once again on the rise across nearly every maturity. The ten-year Treasury note closed at 4.7 percent on Tuesday, up from 4.1...
-
Tim Penny & David Minge: Taxes increasingly paying for the past - not the future
Read moreTim 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...
-
Trust Fund Solvency Could Stabilize the Debt
Read moreRestoring 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...
-
Breaking Down the Proposals in the President's FY 2025 Budget
Read moreThe Biden Administration recently released the President's Fiscal Year (FY) 2025 budget, outlining President Biden's tax and spending priorities for...
-
Treasury: $1.1 Trillion Deficit in First Half of Fiscal Year
Read moreThe United States borrowed $1.1 trillion in the first six months of fiscal year 2024, including $236 billion in March, according to the latest Monthly...