Debt & Deficits
Latest
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The Deficit Was $1.8 Trillion Over the Past Year
The federal budget deficit totaled $1.8 trillion over the past 12 months, up $70 billion from Fiscal Year (FY) 2023, or 4.2 percent. The 12-month...
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CBO Releases February 2024 Budget and Economic Outlook
The Congressional Budget Office (CBO) just released its February 2024 Budget and Economic Outlook, its first full ten-year baseline and economic...
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CBO's February 2024 Budget and Economic Outlook
The Congressional Budget Office released its February 2024 Budget and Economic Outlook today, projecting the nation’s fiscal and economic future over...
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Chartbook: From Riches to Rags: Causes of Fiscal Deterioration Since 2001
On January 31, Committee for a Responsible Federal Budget senior vice president and senior policy director Marc Goldwein gave a presentation on our...
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The Deficit Hit $1.8 Trillion in Calendar Year 2023
The federal budget deficit totaled $1.8 trillion in calendar year (CY) 2023, up 5 percent from the fiscal year deficit of $1.7 trillion and 20 percent...
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Treasury Confirms Calendar Year 2023 Deficit Tops $1.8 Trillion
The Treasury Department released the Monthly Treasury Statement for December, showing the United States borrowed $1.8 trillion in calendar year 2023,...
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From Riches to Rags: Causes of Fiscal Deterioration Since 2001
In 2001, the federal government ran a $128 billion budget surplus and was projected to pay off the national debt by 2009. Since then, the government...
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How Much Did President Trump Add to the Debt?
In the recent GOP primary presidential debate, former United Nations Ambassador Nikki Haley claimed that President Trump added $8 trillion to the...
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Gross National Debt Tops $34 Trillion; Third Milestone in 12 Months
The gross national debt of the United States topped $34 trillion Friday after topping $33 trillion in September, the U.S. Treasury confirmed today...
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Congress Should Avoid Costly Tax Cut Holiday Season
According to press reports , policymakers may be close to reaching a bipartisan tax cut deal that would temporarily restore various business tax...
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Treasury: $381 Billion Deficit in First 2 Months of Fiscal Year
The United States borrowed $381 billion in the first two months of fiscal year 2024, including $314 billion in November, according to the latest...
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CBO Estimates $383 Billion Deficit For First Two Months of Fiscal Year
The United States borrowed $383 billion in the first two months of fiscal year 2024, including $317 billion in November, according to the latest...