Debt & Deficits
Latest
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Q&A: Everything You Should Know About the Debt Ceiling
Read moreThis paper has been updated here. The federal debt ceiling will be reinstated on August 1, 2021, at around $28.5 trillion. At that point, the Treasury...
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Five Reasons to Pay for New Investments
Read moreCongress and the Administration are currently negotiating and developing legislation to invest in physical infrastructure, education, and other areas...
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Maya MacGuineas on Fox Business Discussing the Growing National Debt
Read moreCommittee for a Responsible Federal Budget President Maya MacGuineas joined “Mornings with Maria" on Fox Business to discuss the status of COVID...
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ARCHIVE: How Long Before Cancelled Student Debt Would Return?
Read moreNote: (7/6/2022): This analysis is now out of date. We released an updated version of this analysis, available here, which includes updated estimates...
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CBO Releases July 2021 Budget and Economic Outlook
Read moreThe Congressional Budget Office (CBO) just released its updated Budget and Economic Outlook, accounting for enactment of the American Rescue Plan and...
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Kerrey and Danforth Sound the Alarm on Long-Term Debt
Read moreFormer Senators Bob Kerrey (D-NE) and John C. Danforth (R-MO) recently published an op-ed in the Wall Street Journal highlighting the need to address...
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President's Budget Would Add More to Debt With Tax Cut Extensions
Read morePresident Joe Biden's Fiscal Year (FY) 2022 budget includes many significant changes that would add nearly $1.4 trillion to deficits through FY 2031...
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CBO Reports $2.1 Trillion Deficit for First Eight Months of FY 2021
Read moreFor Immediate Release The United States borrowed nearly $2.1 trillion in the first eight months of fiscal year 2021, according to the latest Monthly...
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Maya MacGuineas: Biden's Budget Reflects His Priorities, but Leaves Debt Unchecked
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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Partial Student Debt Cancellation is Poor Economic Stimulus
Read moreLast year, we estimated that fully canceling student debt would produce eight to 23 cents of economic activity for every dollar of cost and speculated...
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An Overview of the President’s FY 2022 Budget
Read moreMoments ago, President Joe Biden unveiled his Fiscal Year (FY) 2022 budget proposal, outlining his tax and spending proposals and their effects on the...
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CBO Releases Budget Projections Under Three Scenarios
Read moreLast week, the Congressional Budget Office (CBO) released a letter outlining how enacted legislation and certain amounts of additional spending would...