Debt & Deficits
Latest
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U.S. Ran a $2 Trillion Deficit Last Year, We Estimate
Read moreFiscal Year (FY) 2026 ended yesterday. Although official figures have not yet been released, our preliminary estimates show high and rising deficits... -
Guest Essay – Post-WWII Versus Now: Similar Debt, Different Circumstances
Read moreBelow is a guest essay from Rebeca Stacey, a Summer 2026 Policy Intern at the Committee. The views expressed below are those of the author and may not... -
CBO: 1% Higher Interest Rates Add Trillions to Debt
Read moreInterest rates across the yield curve have been hitting multi-decade highs, with the 30-year Treasury bond closing at 5.5% today – the highest level... -
Don't Count on Growth to Fix the Debt
Read moreStrong economic growth will be needed to help fix the debt problems the country faces, and lawmakers should take growth effects into consideration... -
Bipartisan Fiscal Forum Co-Chairs Urge House Leadership to Act as Gross Debt Exceeds $40 Trillion
Read moreRepresentatives Bill Huizenga (R-MI) and Scott Peters (D-CA), co-chairs of the Bipartisan Fiscal Forum, recently sent a letter to House Speaker Mike... -
Deficit Reduction Is Key to Improving Affordability
Read moreAmericans face many affordability challenges. High inflation, increasing interest rates, rising housing costs, growing health costs, elevated gas... -
Leon Panetta's House Budget Committee Testimony on America's Fiscal Future: Examining the Need for a Fiscal Commission
Read moreOn September 21, 2026, Committee for a Responsible Federal Budget Co-Chair and former Secretary of Defense Leon Panetta testified before a hearing of... -
$5,000 Dividends Would Cost $1.2 Trillion
Read moreLast night, President Trump promised to issue a $5,000 “dividend” to every adult citizen in the United States should his party retain unified control... -
12-Month Rolling Deficit is $1.8 Trillion in August 2026
Read moreThe federal government borrowed $1.8 trillion over the past 12 months according to new estimates from the Congressional Budget Office (CBO). CBO... -
How Debt Got to 100% of GDP: A From Riches to Rags Update
Read moreSince gross national debt crossed $40 trillion last month – and the more meaningful debt held by the public as a share of Gross Domestic Product (GDP)... -
Q&A: Gross Debt Versus Debt Held by the Public
Read moreOn August 18, 2026, the gross national debt exceeded $40 trillion for the first time. This mark serves as an important reminder of the nation's... -
12-Month Rolling Deficit is $1.9 Trillion in July 2026
Read moreThe federal government borrowed $1.9 trillion over the past 12 months according to new estimates from the Congressional Budget Office (CBO). Based on...