Debt & Deficits
Latest
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Treasury: 2021 Deficit Was $2.8 Trillion
Read moreThe Treasury Department released its final Monthly Treasury Statement for Fiscal Year (FY) 2021, showing a $2.8 trillion deficit for the year and debt... -
A $2.8 Trillion Budget Deficit
Read moreFor Immediate Release The Congressional Budget Office released its final monthly budget review of fiscal year (FY) 2021 today, concluding the budget... -
Reconciliation Unlikely to Produce $600 Billion in Dynamic Revenue
Read morePolicymakers are claiming their $3.5 trillion reconciliation package will be fully paid for by counting on $600 billion of dynamic feedback on top of... -
Representatives Murphy and Cuellar Push for Fiscally Responsible Reconciliation
Read moreRepresentatives Stephanie Murphy (D-FL) and Henry Cuellar (D-TX) recently sent a letter to House majority leadership outlining principles for the... -
Comparing the Cost of Build Back Better to Other Recent Legislation
Read moreLawmakers are preparing to consider both portions of President Biden's Build Back Better agenda – the Senate-passed bipartisan infrastructure bill and... -
The Budgetary Implications of the Senate Budget Resolution
Read moreThe recently released fiscal year (FY) 2022 Senate budget resolution provides reconciliation instructions allowing for deficit increases of up to $1... -
How Much Could Build Back Better Add to the Debt, An Update
Read moreNote: with recent Administrative actions on SNAP, debt-to-GDP will be about 0.6 percent higher in all scenarios. As a result, it will now reach 107... -
CBO's Deficit Projections Are Higher, Here's Why
Read moreIn its updated Budget and Economic Outlook, the Congressional Budget Office (CBO) projected budget deficits will total $15.1 trillion between Fiscal... -
The Senate Budget Resolution Would Allow $1.75 Trillion of Borrowing
Read moreSenate Budget Committee Chairman Bernie Sanders (I-VT) released a budget resolution for Fiscal Year (FY) 2022 today that allows for up to roughly $1... -
Infrastructure Plan Will Add $400 Billion to the Deficit, CBO Finds
Read moreThe Congressional Budget Office (CBO) just published its score of the recently unveiled bipartisan Infrastructure Investment and Jobs Act. Though its... -
How Much Could Build Back Better Add to the Debt?
Read moreNote: This analysis was updated for new data and details on August 11, 2021. See the updated analysis here. While we do not have all the estimates for... -
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...