Budgets & Projections
Latest
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Treasury: FY 2022 Deficit Was $1.4 Trillion
The US Department of the Treasury released its final Monthly Treasury Statement for Fiscal Year (FY) 2022, showing a $1.4 trillion deficit for the...
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Year-End 'Extenders' Could Worsen Deficits and Inflation
With inflation surging and debt approaching record levels, policymakers might make the fiscal situation even worse in an end-of-the-year fiscal...
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CBO Releases its Estimate of the President's FY 2023 Budget
Yesterday, the Congressional Budget Office (CBO) released its estimate of the President's Fiscal Year (FY) 2023 budget. CBO finds that debt and...
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Maya MacGuineas: The White House is wrong, Biden is no steward of fiscal responsibility
Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently wrote an opinion...
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Student Debt Changes Wipe Out IRA Savings
The student debt cancellation and relief measures recently announced by the Biden Administration will cost roughly $500 billion over ten years under...
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CBO Reports $217 Billion Deficit for August
The United States borrowed over $944 billion in the first 11 months of fiscal year 2022, including $217 billion in August, according to the latest ...
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IRA Changes Could Erase $500 Billion of Long-Term Savings
Recently, we estimated the original Inflation Reduction Act (IRA) would reduce deficits by roughly $1.5 trillion over two decades, or nearly $2...
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A True Pivot in Budgeting
Moments ago, the House passed the Inflation Reduction Act, which would reduce the deficit substantially this decade and beyond. The bill passed the...
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Senate Takes First Step Toward Fixing Our Debt
Moments ago, the Senate passed the Inflation Reduction Act. The following is a statement from Maya MacGuineas, president of the Committee for a...
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Budget Experts Urge Congress to Enact Deficit Reduction
Today, 55 of the nation’s top budget experts issued a letter calling for Congress to enact deficit reduction in the coming months and years in order...
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IRA Saves Almost $2 Trillion Over Two Decades
The Inflation Reduction Act (IRA) would reduce budget deficits by over $300 billion in its first nine years, but much of the savings would take time...
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Analysis of CBO's July 2022 Long-Term Budget Outlook
Today, the Congressional Budget Office (CBO) released its July 2022 Long-Term Budget Outlook. Although CBO’s extended baseline is based on outdated...