The U.S. Fiscal Outlook Has Gotten Worse over the Past Year — Here’s Why
Federal deficits will total $19.0 trillion over the 2023–2032 period if no new legislation targeting spending or revenues is enacted.
Read MoreInterest Is Skyrocketing, and the National Debt Will Reach an All-Time High in Just 5 years
The Congressional Budget Office (CBO) released updated budget and economic projections that incorporate higher interest rates and other developments.
Read MoreInterest Costs on the National Debt Are on Track to Reach a Record High
Borrowing costs have increased rapidly over the past year and will grow through the next decade.
Read More76 Options to Reduce the Federal Deficit
There’s no question that America’s fiscal outlook is daunting. The good news is that there are plenty of ways to reverse course.
Read More8 Charts That Show How We Failed to Fix Our Fiscal Outlook This Year
These charts tell the fiscal story of 2022 — looking back at how our fiscal situation deteriorated over the past year and what challenges lie ahead.
Read MoreThe Longer We Wait to Stabilize the National Debt, the More Difficult It Will Be
The national debt is on an unsustainable path and the longer policymakers wait to take action, the more of a burden that debt will have on future generations.
Read MoreHow Did the Pandemic Affect the Way We Look at Deficits?
The pandemic caused a severe economic slowdown that reduced tax revenues and generated a set of large legislative responses.
Read More$1 Trillion Deficits Are Projected for the Foreseeable Future
The federal deficit is projected to be over $1 trillion each year for the next 10 years, according to the Office of Management and Budget.
Read MoreCBO Director Discusses Inflation, Interest Costs, New Reconciliation Proposal, and America’s Unsustainable Debt
CBO Director Phillip Swagel discussed the latest economic indicators and how CBO analysis helps policymakers, with Peterson Foundation CEO Michael Peterson.
Read MoreNational Debt to Double in Size and Other Key Takeaways from the CBO Long-Term Outlook
The pandemic exacerbated the nation’s fiscal trajectory, but the more consequential underlying problem is the structural mismatch between spending and revenues.
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