Debt & Deficits
Latest
-
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...
-
Trump and Biden: Debt Growth
We recently estimated that former President Trump and current President Biden approved $8.4 trillion and $4.3 trillion of new ten-year borrowing (or...
-
Trump and Biden: The National Debt
The national debt is on course to reach a record share of the economy under the next presidential administration, due in part to policies approved by...
-
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...
-
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...
-
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...
-
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...
-
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...
-
Income Growth Would Slow By One-Third Due to Rising Debt
A new report from the Congressional Budget Office (CBO) finds rising national debt will slow economic growth and reduce projected incomes. Compared to...
-
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)...
-
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...
-
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...