Debt & Deficits
Latest
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Mitch Daniels: Modern Monetary Theory, debunked everywhere except among government big-spenders
Read moreMitch Daniels is the president of Purdue University, a former governor of Indiana, a former director of the Office of Management and Budget, and a co...
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Q&A: Everything You Should Know About the Debt Ceiling
Read moreThis paper has been updated. The federal debt ceiling was raised in December of 2021 by $2.5 trillion to $31.381 trillion, which is expected to last...
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A $1.4 Trillion Deficit Is Not An Accomplishment
Read moreThe U.S. Treasury Department released the final Monthly Treasury Statement for Fiscal Year 2022 today, confirming the deficit totaled nearly $1.4...
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Treasury: FY 2022 Deficit Was $1.4 Trillion
Read moreThe US Department of the Treasury released its final Monthly Treasury Statement for Fiscal Year (FY) 2022, showing a $1.4 trillion deficit for the...
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FY 2022 Deficit Totals $1.4 Trillion
Read moreThe Congressional Budget Office (CBO) today released its final monthly budget review of Fiscal Year (FY) 2022, which shows that the budget deficit...
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U.S. Gross Debt Tops $31 Trillion
Read moreThe gross national debt of the United States eclipsed $31 trillion yesterday, just nine months after the federal government’s gross debt exceeded $30...
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Year-End 'Extenders' Could Worsen Deficits and Inflation
Read moreWith inflation surging and debt approaching record levels, policymakers might make the fiscal situation even worse in an end-of-the-year fiscal...
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CBO Releases its Estimate of the President's FY 2023 Budget
Read moreYesterday, the Congressional Budget Office (CBO) released its estimate of the President's Fiscal Year (FY) 2023 budget. CBO finds that debt and...
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Maya MacGuineas: The White House is wrong, Biden is no steward of fiscal responsibility
Read moreMaya 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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The Biden Administration Has Approved $4.8 Trillion of New Borrowing
Read moreNote: We published a more comprehensive, up-to-date comparison analysis of the amount of new ten-year borrowing approved by both Presidents Trump and...
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Student Debt Changes Wipe Out IRA Savings
Read moreThe student debt cancellation and relief measures recently announced by the Biden Administration will cost roughly $500 billion over ten years under...
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CBO Reports $217 Billion Deficit for August
Read moreThe United States borrowed over $944 billion in the first 11 months of fiscal year 2022, including $217 billion in August, according to the latest ...