Debt & Deficits
Latest
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12-Month Rolling Deficit Rises to $2.2 Trillion in February 2025
Read moreThe federal budget deficit totaled $2.2 trillion between March 2024 and February 2025 based on estimates from the Congressional Budget Office (CBO)...
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House Budget Allows At Least $2.8 Trillion of Deficit Increases
Read moreThe House of Representatives will soon consider a budget resolution for Fiscal Year (FY) 2025, which was reported favorably out of the House Budget...
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12-Month Rolling Deficit is $2.1 Trillion in January 2025
Read moreThe 12-month rolling deficit – or the amount the federal government has borrowed over the past year – totaled $2.1 trillion, based on estimates from...
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Interest Costs Would Explode with $5.5 Trillion Reconciliation Package
Read moreA recent press report indicated that House leadership may be considering a budget resolution that would allow up to $5.5 trillion of net primary...
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Meeting Fiscal Goals Under CBO’s January 2025 Baseline
Read moreStabilizing debt over the next decade at its current share of the economy would require $9.0 trillion of deficit reduction relative to the...
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CBO’s Discretionary Savings Options
Read moreThe Congressional Budget Office (CBO) recently released its Options for Reducing the Deficit, outlining a number of policy options to reduce the...
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CBO Releases January 2025 Budget and Economic Outlook
Read moreThe Congressional Budget Office (CBO) released its January 2025 Budget and Economic Outlook today, projecting that the national debt remains on an...
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Debt Ceiling Q&A
Read moreAfter being suspended by the Fiscal Responsibility Act in 2023, the federal debt ceiling was restored on January 2 and set to the outstanding debt...
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Chris Towner: It’s Time To Get Serious About The Federal Budget Deficit
Read moreChris Towner is the policy director for the Committee for a Responsible Federal Budget. He recently wrote an opinion piece for the Carolina Journal...
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Lawmakers Add $380 Billion to the Debt in the Final Hours of 2024
Read moreWith the passage of the Social Security Fairness Act and the American Relief Act, Congress and the President approved $1 trillion in new ten-year debt...
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Options to Raise Tariff Revenue
Read moreUpdate: The estimates below were made in December 2024. Since then, the Trump Administration enacted and implemented numerous tariffs, including a...
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Options for Reducing the Revenue Loss of TCJA Extension
Read moreUpdate: The offset options below were estimated prior to enactment of the One Big Beautiful Bill Act (OBBBA) and have not been updated. Some options...