Budgets & Projections
Latest
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Government Spending Just Keeps on Growing
The latest Congressional Budget Office (CBO) baseline shows that federal spending this year will be the largest it’s ever been outside a crisis – far...
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CBO Releases June 2024 Baseline Update
The Congressional Budget Office (CBO) today released new ten-year budget and economic projections – an update from its February baseline – again...
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Record Interest Next Year, Record Debt Projected in Just 3 Years
The Congressional Budget Office (CBO) released its Update to the Budget and Economic Outlook today, projecting that the national debt will set a new...
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CBO Estimates $1.2 Trillion Deficit for First Eight Months of Fiscal Year
The 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...
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Deficit Totaled $1.7 Trillion Over the Past Year
The federal budget deficit totaled $1.7 trillion over the past 12 months, incorporating the $348 billion May deficit estimated 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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Interest Costs Just Surpassed Defense and Medicare
In the first seven months of Fiscal Year (FY) 2024, spending on net interest has reached $514 billion, surpassing spending on both national defense (...
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Tax Cut Extensions Could Cost $4 Trillion or More
According to new Joint Committee on Taxation (JCT) estimates published by the Congressional Budget Office, extending the expiring or changing elements...
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Introducing the CRFB Debt Thermometer
Fiscal policy has profound consequences on the economic health and national security of the country. Yet little is done to track the effects of...
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Interest Rates Surge Near Record Highs
Interest 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...
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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...