Debt & Deficits
Latest
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The Deficit Totaled $1.8 Trillion Over the Past Year
The federal budget deficit totaled $1.8 trillion over the past 12 months, up $36 billion from the 12-month period ending in January and up $107...
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Can Donald Trump Eliminate the Debt?
In discussing another potential term in office, last month, former President Donald Trump declared, "we’re going to pay off our debt.” President Trump...
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Fiscal Commission Act: Just the FAQs
The House Budget Committee recently reported the Fiscal Commission Act (FCA), sponsored by Reps. Bill Huizenga (R-MI) and Scott Peters (D-CA) on a...
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What Would It Take To Fix the Debt?
It would take about $8 trillion of ten-year savings to stabilize debt as a share of the economy and about $15 trillion to balance the budget under the...
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Treasury: $532 Billion Deficit in First 4 Months of Fiscal Year
The United States borrowed $532 billion in the first four months of fiscal year 2024, including $22 billion in January, according to the latest...
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The Deficit Was $1.8 Trillion Over the Past Year
The federal budget deficit totaled $1.8 trillion over the past 12 months, up $70 billion from Fiscal Year (FY) 2023, or 4.2 percent. The 12-month...
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CBO Releases February 2024 Budget and Economic Outlook
The Congressional Budget Office (CBO) just released its February 2024 Budget and Economic Outlook, its first full ten-year baseline and economic...
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CBO's February 2024 Budget and Economic Outlook
The Congressional Budget Office released its February 2024 Budget and Economic Outlook today, projecting the nation’s fiscal and economic future over...
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Chartbook: From Riches to Rags: Causes of Fiscal Deterioration Since 2001
On January 31, Committee for a Responsible Federal Budget senior vice president and senior policy director Marc Goldwein gave a presentation on our...
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The Deficit Hit $1.8 Trillion in Calendar Year 2023
The federal budget deficit totaled $1.8 trillion in calendar year (CY) 2023, up 5 percent from the fiscal year deficit of $1.7 trillion and 20 percent...
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Treasury Confirms Calendar Year 2023 Deficit Tops $1.8 Trillion
The Treasury Department released the Monthly Treasury Statement for December, showing the United States borrowed $1.8 trillion in calendar year 2023,...
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From Riches to Rags: Causes of Fiscal Deterioration Since 2001
In 2001, the federal government ran a $128 billion budget surplus and was projected to pay off the national debt by 2009. Since then, the government...