Debt & Deficits
Latest
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Treasury: $1.1 Trillion Deficit in First Half of Fiscal Year
The United States borrowed $1.1 trillion in the first six months of fiscal year 2024, including $236 billion in March, according to the latest Monthly...
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Deficit Was $1.7 Trillion Over Past Year
The federal budget deficit totaled $1.7 trillion over the past 12 months, down $142 billion from the 12-month period ending in February and down $37...
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Analysis of CBO's March 2024 Long-Term Budget Outlook
The Congressional Budget Office (CBO) released its March 2024 Long-Term Budget Outlook today that projects the nation’s fiscal and economic future...
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CBO Presents Grim Long-Term Fiscal Outlook
The Congressional Budget Office released its latest Long-Term Budget Outlook today, projecting the nation’s finances over the next 30 years. CBO...
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CBO Releases March 2024 Long-Term Budget Outlook
The Congressional Budget Office (CBO) just released its March 2024 Long-Term Budget Outlook that projects the nation's fiscal and economic future over...
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Analysis of the President's FY 2025 Budget
The White House released its Fiscal Year (FY) 2025 budget proposal today, outlining President Biden’s tax and spending priorities for the next decade...
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Fact-Checking the 2024 State of the Union
In last night's State of the Union Address, President Biden made a number of claims related to the budget deficit. We've fact-checked three of those...
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The Deficit Totaled $1.8 Trillion Over the Past Year
The federal budget deficit totaled $1.8 trillion over the past 12 months, up $36 billion from the 12-month period ending in January and up $107...
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Can Donald Trump Eliminate the Debt?
In discussing another potential term in office, last month, former President Donald Trump declared, "we’re going to pay off our debt.” President Trump...
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Fiscal Commission Act: Just the FAQs
The House Budget Committee recently reported the Fiscal Commission Act (FCA), sponsored by Reps. Bill Huizenga (R-MI) and Scott Peters (D-CA) on a...
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What Would It Take To Fix the Debt?
It would take about $8 trillion of ten-year savings to stabilize debt as a share of the economy and about $15 trillion to balance the budget under the...
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Treasury: $532 Billion Deficit in First 4 Months of Fiscal Year
The United States borrowed $532 billion in the first four months of fiscal year 2024, including $22 billion in January, according to the latest...