Debt & Deficits
Latest
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An Overview of the House FY 2024 Budget Resolution
The House Budget Committee has released and marked up its Fiscal Year (FY) 2024 budget resolution, a framework that purports to put the budget on a...
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Q&A: Gross Debt Versus Debt Held by the Public
On September 15, 2023, the federal government's gross debt exceeded $33 trillion for the first time. This mark serves as an important reminder of the...
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National Debt Reaches $33 Trillion; Adds $1 Trillion to Debt in 3 Months
The gross national debt of the United States surpassed $33 trillion on Friday, just months after the federal government’s gross debt eclipsed $32...
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Treasury Reports $1.5 Trillion Deficit For First 11 Months of Fiscal Year
The United States borrowed $1.5 trillion in the first eleven months of fiscal year 2023, including an $89 billion surplus in August due to the...
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CBO Estimates $1.5 Trillion Deficit For First 11 Months of Fiscal Year
In the first eleven months of fiscal year 2023, the United States borrowed $1.5 trillion, with a $90 billion surplus in August due to the reversal of...
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CBO Outlines Negative Implications of High & Rising National Debt
In its June 2023 Long-Term Budget Outlook, the Congressional Budget Office (CBO) dedicated an entire section to discussing the risks and threats of...
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White House Calls for $40 Billion Supplemental
The White House recently proposed a supplemental appropriations package to boost Fiscal Year (FY) 2024 ordinary appropriations by $40 billion above...
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Treasury Reports $1.6 Trillion Deficit For First 10 Months of Fiscal Year
The United States borrowed $1.6 trillion in the first ten months of fiscal year 2023, including $221 billion in July, according to the latest Monthly...
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CBO's Alternative Long-Term Budget Projections
Though the Congressional Budget Office's (CBO) latest Long-Term Budget Outlook projects that federal debt held by the public will reach 181 percent of...
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We Must Not Backslide on Fiscal Responsibility Act
The bipartisan Fiscal Responsibility Act (FRA) enacted last month was projected to generate $1.5 trillion of deficit reduction – more than any...
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Restoring Trust Fund Solvency Would Reduce Long-Term Debt Growth
Restoring solvency to the major trust funds would reduce one-half to four-fifths of the projected debt-to-GDP growth over the next three decades. The...
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Treasury Reports $1.4 Trillion Deficit For First 9 Months of Fiscal Year 2023
The United States borrowed $1.4 trillion in the first nine months of fiscal year 2023, including $228 billion in June, according to the latest Monthly...