Debt & Deficits
Latest
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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...
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Gross National Debt Reaches $36 Trillion
Read moreThe gross national debt of the United States reached $36 trillion yesterday, just over three months since the previous milestone was reached at the...
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$700 Billion of Easy Deficit Reduction
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...
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CBO Estimates $255 Billion Deficit for First Month of Fiscal Year 2025
Read moreThe United States borrowed $255 billion in the first month of fiscal year 2025, according to the latest Monthly Budget Review from the Congressional...
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FY 2024 Ends with $1.8 Trillion Deficit
Read moreThe U.S. Department of the Treasury recently released its final Monthly Treasury Statement for Fiscal Year (FY) 2024, showing a $1.8 trillion deficit...
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The Fiscal Impact of the Harris and Trump Campaign Plans
Read moreNote: This analysis has been updated to incorporate new proposals announced by the candidates since we initially published on October 7. You can read...
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The Impact of the Trump and Harris Plans on Spending and Revenue
Read moreIn our recent analysis, The Fiscal Impact of the Harris and Trump Campaign Plans, we found that the campaign policy plans from both Vice President...
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Bipartisan Group of Lawmakers Introduce Employee Retention Tax Credit Repeal Act
Read moreIn response to concerns over fraudulent claims over the past few years, Senators Joe Manchin (I-WV), Mitt Romney (R-UT), and Thom Tillis (R-NC)...
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CBO Estimates 2024 Deficit Totaled $1.8 Trillion
Read moreThe Congressional Budget Office (CBO) released its estimate of the Fiscal Year (FY) 2024 budget deficit in its Monthly Budget Review, showing a $1.8...