Decade in Review: Looking Back at CBO Projections Then and Now
Let’s take a closer look at projections from 10 years ago to assess how decisions by lawmakers and other factors have contributed to our fiscal outlook.
Read More$9 Trillion Added to the National Debt over the Last Decade
Over the past decade, trillions of dollars were added to the national debt. Much of that growth in debt occurred as a result of the Great Recession.
Read More11 Charts That Show How Our National Debt Grew in 2019
Here are eleven charts that tell America’s fiscal story for 2019 — and show how our outlook went from bad to worse over the last 12 months.
Read MoreDebt Is Expected to Grow Faster in the United States than Anywhere Else in the World
The United States leads the world in an unfortunate category: the pace of growth in its debt.
Read MoreCBO: Recent Budget Deal Will Add $1.7 Trillion to the National Debt over the Next 10 Years
The budget projections released by the Congressional Budget Office (CBO) reaffirm the perilous path of deficits and debt expected over the next decade.
Read MoreDeficit to Rise Nearly 30% over Last Year, According to New White House Projections
The deficit could reach $1 trillion this year, according to the Office of Management and Budget (OMB), which released its annual mid-session review on Friday.
Read MoreDeficits Much Larger Than Projected Just Three Months Ago
CBO projects that the deficit for 2019 will be $960 billion. That’s $63 billion (or 7 percent) above its estimate from just three months ago.
Read MoreWhy the 2019 Long-Term Budget Outlook Is More Bad News
This year’s report demonstrates why lawmakers should focus their attention toward improving our nation’s debt path as soon as possible.
Read MoreCBO 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.
Read MoreFive 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.
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