Debt & Deficits
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Maya MacGuineas and Samuel T. Sicard: Situation Dire
Read moreMaya MacGuineas is president of the Committee for a Responsible Federal Budget and Samuel T. Sicard is president and CEO of First National Bank of...
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Unpaid-for Tax Cuts Would Shrink Incomes, CBO Finds
Read moreThe Congressional Budget Office (CBO) recently found that extending the 2017 Tax Cuts and Jobs Act (TCJA) and adding $1.5 trillion in additional tax...
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12-Month Rolling Deficit is $2.1 Trillion in March 2025
Read moreThe federal government has borrowed $2.1 trillion over the past year – April 2024 to March 2025 – based on estimates from the Congressional Budget...
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How Much Will Trump’s New Tariffs Raise?
Read moreOn April 2, the Trump Administration announced a series of so-called " reciprocal tariffs” applied to nearly every country with which the United...
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Senate Budget Could Enable Unprecedented Deficit Increase
Read moreThe Senate’s proposed concurrent Fiscal Year (FY) 2025 budget resolution would allow policymakers to add $5.8 trillion to primary deficits through...
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What’s in the Senate’s Concurrent FY 2025 Budget?
Read moreUpdate (4/11/2025): The Senate adopted the budget described below on April 5, 2025, and the House adopted the budget on April 10, 2025, making this...
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Rumored Senate Reconciliation Instructions Would Double Debt Growth
Read morePress reports indicate that Senate leadership may release a proposed concurrent budget resolution for Fiscal Year (FY) 2025 as early as today with...
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Fiscal Goals Become Very Difficult with Reconciliation Plans
Read moreIt would take more than $7 trillion of ten-year savings to stabilize debt at the size of the economy by Fiscal Year (FY) 2034. But rather than making...
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The House’s $2 Trillion in Spending Cuts Should Be an Absolute Minimum
Read moreThe reconciliation instructions in the House’s Fiscal Year (FY) 2025 budget resolution – which allow up to $2.8 trillion of net borrowing through 2034...
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Analysis of CBO’s March 2025 Long-Term Budget Outlook
Read moreToday, the Congressional Budget Office (CBO) released its March 2025 Long-Term Budget Outlook, which builds off its January 2025 ten-year projections...
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CBO Releases March 2025 Long-Term Budget and Economic Outlook
Read moreThe Congressional Budget Office (CBO) just released its March 2025 Long-Term Budget and Economic Outlook, its first full thirty-year baseline and...
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Putting the Reconciliation Resolution in Context
Read moreThe House Fiscal Year (FY) 2025 budget resolution would allow policymakers to add $2.8 trillion to primary deficits through 2034 via a reconciliation...