Long-Term Budget Outlook Leaves No Room for Costly Legislation
As lawmakers consider costly legislation to extend expiring tax provisions this year, CBO’s latest projections serve as a warning that our fiscal outlook is already dangerously unsustainable.
Read MoreNational Debt Would Skyrocket Under TCJA Extension
New analysis released from the nonpartisan CBO shows deficits doubling and debt skyrocketing under a scenario where the expiring provisions of the Tax Cuts and Jobs Act were made permanent.
Read MoreWhy Is the Federal Deficit High If Unemployment Is Low?
The U.S. is experiencing an unusual and concerning phenomenon — the annual deficit is high even though the unemployment rate is low.
Read MoreDelaying Fiscal Reform is Costly, Annual Treasury Report Warns
The Treasury projects that debt as a percentage of GDP will grow to more than five times the size of the U.S. economy in the next 75 years.
Read MoreHow Much Is the National Debt? What Are the Different Measures Used?
There are three widely used measures of federal debt. What are the important differences between these measurements?
Read MorePoll: Voters Don’t Want New Legislation or Tax Cuts that Increase the National Debt
This year, President Trump and the new Congress face a series of high stakes fiscal policy decisions.
Read MoreNational Debt on Track to Reach Record High in Just Four Years
CBO’s latest projections come at a key time, as lawmakers will be faced with a range of critical fiscal decision points in the coming year. Here are seven takeaways from the report.
Read More76 Options for Reducing the Deficit
The nonpartisan Congressional Budget Office released 76 policy options — spanning both revenues and spending — that could help bring the country’s rising debt under control.
Read More7 Charts that Show How the Nation’s Fiscal Outlook Worsened in 2024
The end of 2024 marks another year that the country has failed to improve its daunting fiscal outlook.
Read MoreThe U.S. Just Had Its Highest Deficit Outside of Major War or Recession
One of the reasons to restrain debt and maintain a sustainable fiscal outlook is that emergencies arise that may necessitate federal support.
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