Debt & Deficits
Latest
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Q&A: Gross Debt Versus Debt Held by the Public
Read moreOn March 17, 2026, the gross national debt exceeded $39 trillion for the first time. This mark serves as an important reminder of the nation's...
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A Gas Tax Holiday Would Cost Billions Each Month
Read moreIn the midst of the conflict with Iran and spiking oil prices, policymakers are reportedly considering – and some have introduced – a temporary gas...
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OBBBA Dynamic Score Comes In at $4.7 Trillion
Read moreThe “One Big Beautiful Bill Act” (OBBBA) will add $4.2 trillion to the national debt through Fiscal Year (FY) 2034 or $4.7 trillion through 2035 after...
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Break Glass: A Plan for the Next Economic Shock
Read moreThe U.S. has never experienced an economic shock as indebted as we are today. Recessions and other economic shocks are inevitable. Although the timing...
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12-Month Rolling Deficit is $1.6 Trillion in February 2026
Read moreThe federal government borrowed $1.6 trillion over the past year – March 2025 to February 2026 – based on estimates from the Congressional Budget...
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CBO Projects Possible Debt Spiral, as R Exceeds G
Read moreThe U.S. national debt has long been on an unsustainable path. Nonetheless, for most of the 20th century, debt sustainability has been bolstered by...
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How Much Will Trump’s New 10% (or 15%) Tariffs Raise?
Read moreUPDATE (March 5, 2025): CBO estimated the Supreme Court ruling that IEPPA tariffs are illegal will reduce revenue by $1.6 trillion through 2036...
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Trump CEA Projections Tracker
Read moreBefore the passage of the One Big Beautiful Bill Act (OBBBA), the White House Council of Economic Advisers (CEA) released economic and fiscal...
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Debt Could Reach 131% of GDP Under an Alternative Scenario
Read moreUnder the Congressional Budget Office's (CBO) new February 2026 baseline, deficits will total $26 trillion – about 6.1% of Gross Domestic Product (GDP...
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CBO Releases February 2026 Budget and Economic Outlook
Read moreThe Congressional Budget Office (CBO) just released its February 2026 Budget and Economic Outlook, its first full ten-year baseline and economic...
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CBO’s February 2026 Budget and Economic Outlook
Read moreThe Congressional Budget Office (CBO) released its February 2026 Budget and Economic Outlook today, updating its January 2025 baseline to account for...
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12-Month Rolling Deficit is $1.6 Trillion in January 2026
Read moreThe federal government has borrowed $1.6 trillion over the past 12 months based on the latest estimates from the Congressional Budget Office (CBO)...