Budgets & Projections
Latest
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New Projection: Federal Debt Will Reach Record Levels Sooner Than Expected
Read moreThe nation’s fiscal and economic outlook has deteriorated substantially since the last Congressional Budget Office (CBO) baseline in May, when CBO...
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CBO Reports $83 Billion Deficit in First Month of Fiscal Year
Read moreThe United States borrowed $83 billion in October, according to the latest Monthly Budget Review from the Congressional Budget Office. The following...
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The CRFB Fiscal Blueprint for Reducing Debt and Inflation
Read moreThe United States faces numerous economic and fiscal challenges, including surging inflation, rising interest rates, trust funds heading toward...
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A $1.4 Trillion Deficit Is Not An Accomplishment
Read moreThe U.S. Treasury Department released the final Monthly Treasury Statement for Fiscal Year 2022 today, confirming the deficit totaled nearly $1.4...
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COVID Relief End Explains All of 2022 Deficit Decline
Read moreThe budget deficit fell by half between Fiscal Year (FY) 2021 and FY 2022, from $2.8 trillion to $1.4 trillion. While the Biden Administration has...
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Treasury: FY 2022 Deficit Was $1.4 Trillion
Read moreThe 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
Read moreWith 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
Read moreYesterday, 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
Read moreMaya 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
Read moreThe 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
Read moreThe 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
Read moreRecently, we estimated the original Inflation Reduction Act (IRA) would reduce deficits by roughly $1.5 trillion over two decades, or nearly $2...