House Tax Bill Adds $1.7 Trillion to Deficits When You Include Interest
The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
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The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
CBO now expects that 3-month interest rates will peak at around 5.3 percent this year and only fall to 3.2 percent by the end of 2025.
The Farm Bill provides an opportunity for policymakers to comprehensively address agricultural, food, conservation, and other issues.
A range of coverage & analysis looking at what this news means for America's long-term fiscal outlook
https://www.pgpf.org/blog/2016/01/recommended-reading-cbo-highlights-the-return-to-rising-deficits
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
CBO prepares what is known as an alternative fiscal scenario, which can be helpful in understanding a range of potential outcomes.
https://www.pgpf.org/blog/2019/09/what-is-an-alternative-fiscal-scenario
The U.S. long-term fiscal outlook is notably worse than last year.
https://www.pgpf.org/blog/2023/04/five-troubling-takeaways-from-the-latest-cbo-report
Lawmakers have previously implemented various forms of caps to restrain spending and such efforts have been effective at times
https://www.pgpf.org/blog/2023/10/do-budget-caps-work-6-ways-to-make-them-more-effective
The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.
https://www.pgpf.org/blog/2017/10/federal-budget-deficits-rising-even-before-tax-cuts
A newly updated report, prepared by Ernst & Young, reexamines the federal government's long-term fiscal outlook through the "fiscal gap" measure.