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83 Ways We Can Reduce the Deficit, According to CBO

It’s important for lawmakers to consider the many available policy options for improving that outlook.

A Return to Trillion Dollar Deficits

CBO reports that the fiscal outlook is dramatically worse than it was last year, primarily due to the fiscally irresponsible tax legislation and budget deal.

CBO Warns: Historic Debt Levels Pose Substantial Risks

Federal debt will rise to 144 percent of GDP within 30 years — far exceeding its all-time high, and nearly doubling today’s level.

CBO’s Updated Projections Show Deficits Continuing to Climb, Despite Growing Economy

Under current law, the U.S. budget deficit will exceed $1 trillion each year beginning in 2022 and total $11.4 trillion over the upcoming decade.

Economic Growth Rates in 2019 Are on Track to Be Lower Than in 2018

Growth earlier in the year was spurred by appropriations enacted in early 2018 as well as by the TCJA, though the stimulus effects of the latter are fading.

Fast-Approaching Fiscal Deadlines Pose Threat to American Economy

Americans and the economy are vulnerable to a series of high-stakes fiscal deadlines, with an uncertain path forward.

Fed Chair Powell Encourages Congress to Address Rising Debt before Next Downturn

Powell noted that the current economic expansion is the longest on record and emphasized the need to consider the long-term implications of fiscal policy.

Federal Budget Deficits Rising — Even Before Tax Cuts

The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.

Five Key Takeaways from the CBO Long-Term Outlook

Interest costs are projected to triple. As the debt grows, the cost of paying interest on the debt is projected to increase rapidly.

Healthcare Costs Are a Major Driver of the National Debt and Here’s the Biggest Reason Why

Improving the U.S. healthcare system will be crucial to providing quality, affordable healthcare and to bettering our nation’s long-term economic and fiscal well-being.