Budgets & Projections
Latest
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Long-Term Projections Paint a Bleak Fiscal Picture
The Congressional Budget Office (CBO) released its Long-Term Budget Outlook today, which shows debt rising to 181 percent of GDP by 2053 under CBO’s...
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Maya MacGuineas on Bloomberg's "Balance of Power"
Committee president Maya MacGuineas recently joined Bloomberg's "Balance of Power" to discuss the latest Long-Term Budget Outlook from the...
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John Kasich and Leon Panetta: The Fiscal Responsibility Act is Only a First Step Toward Truly Responsible Spending and Debt Reduction
John Kasich and Leon Panetta are former Members of Congress and a Director and Co-Chair, respectively, of the Committee for a Responsible Federal...
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The Post-FRA Fiscal Outlook
The nation's fiscal outlook has improved slightly since the last Congressional Budget Office (CBO) baseline in May, thanks to the $1.5 trillion of ten...
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RSC Releases FY 2024 Budget Proposal
The Republican Study Committee (RSC) recently released its annual budget proposal for Fiscal Year (FY) 2024, covering the upcoming fiscal year and the...
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Gross National Debt Reaches $32 Trillion
The gross national debt of the United States surpassed $32 trillion yesterday. It was just over eight months ago when the federal government eclipsed...
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W&M Tax Bill Undermines FRA Savings
The American Families and Jobs Act (AFJA) that recently passed the House Ways and Means Committee would add $320 billion to the deficit over the next...
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The Deficit Was $2.1 Trillion Over Past Year
The federal budget deficit totaled $2.1 trillion over the past 12 months, up 50 percent from the $1.4 trillion deficit in Fiscal Year (FY) 2022 and...
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How Much Would the Fiscal Responsibility Act Save?
The House-passed Fiscal Responsibility Act of 2023 (FRA) would suspend the debt limit and meaningfully reduce budget deficits – but by how much...
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Debt Explodes Under Alternative Scenarios
The Congressional Budget Office's (CBO) new ten-year budget projections estimate that debt will reach a record 119 percent of Gross Domestic Product...
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Meeting Fiscal Goals Under CBO's May 2023 Baseline
We estimate that it would take $16.0 trillion of deficit reduction to balance the budget over a decade, $3.5 trillion to stabilize debt at 110 percent...
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CBO Projections Highlight Need for Deficit Reduction
Today, the Congressional Budget Office (CBO) released its Updated Budget Outlook, which presents a new ten-year baseline that incorporates new...