Debt & Deficits
Latest
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CBO Releases May 2023 Baseline
The Congressional Budget Office (CBO) today released new ten-year budget projections, again confirming that the national debt is on an unsustainable...
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Treasury Confirms $925 Billion Deficit For First 7 Months of Fiscal Year 2023
In the first seven months of fiscal year 2023, the United States borrowed $925 billion, according to the latest Monthly Treasury Statement from the...
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Q&A: Everything You Should Know About the Debt Ceiling
The federal debt ceiling was raised in December of 2021 by $2.5 trillion to $31.381 trillion, which lasted until January 19, 2023, according to a...
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Maya MacGuineas on MSNBC's "The Sunday Show"
Committee for a Responsible Federal Budget President Maya MacGuineas recently joined MSNBC's "The Sunday Show" with Jonathan Capehart to discuss the...
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CBO Scores the Limit, Save, Grow Act
Update (4/26/2023): The Congressional Budget Office released an estimate of the House Rules Committee amendments to the bill, reducing the savings of...
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ARCHIVE: What's in the Limit, Save, Grow Act?
Update (4/25/2023): The Congressional Budget Office has released an official score of the Limit, Save, Grow Act; read our analysis of that score here...
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Extensions Would Wipe Away President's Deficit Reduction
We were very encouraged by the President’s call for $3 trillion of ten-year deficit reduction in his Fiscal Year (FY) 2024 budget proposal. However...
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New CBO Estimate Should Send IDR Plan Back to Drawing Board
The Congressional Budget Office (CBO) estimates the President’s proposed income-driven repayment (IDR) plan for student loans will cost $230 billion...
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House Freedom Caucus Proposes up to $3.7 Trillion in Savings for Debt Ceiling Vote
The House Freedom Caucus released today a proposal for the upcoming debt ceiling negotiations. Its members call for repealing the announced student...
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Maya MacGuineas: Is cutting the deficit by $3 trillion enough? Not even close
Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently wrote an opinion...
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Treasury: $262 Billion Deficit in February
The Treasury Department released its latest Monthly Treasury Statement today, showing that the United States borrowed $262 billion in the month of...
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Net Interest Will Total $10.5 Trillion Over the Next Decade
One of the fastest-growing expenditures over the next decade will be net interest on the national debt, according to the latest projections from the...