Debt & Deficits
Latest
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The Economy Needs an Inflation Reduction Act
Senator Joe Manchin (D-WV) just announced an agreement with Senate Majority Leader Chuck Schumer (D-NY) to vote on the Inflation Reduction Act of 2022...
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CBO Estimates "Chips-Plus" Bill Would Cost $79 billion
The Congressional Budget Office (CBO) has released a cost estimate for H.R. 4346, a “chips-plus” economic competitiveness bill. CBO estimates the...
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Risks and Threats from Deficits and Debt
After two decades of uninterrupted borrowing – including three years in which deficits surpassed 10 percent of the economy – the U.S. national debt is...
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Reconciliation Should Reduce Deficits, Fight Inflation, and Strengthen Medicare
As negotiations have resumed over a potential reconciliation bill, policymakers should maintain focus on combining any new spending and tax breaks...
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ARCHIVE #2: How Long Before Cancelled Student Debt Would Return?
Note: This analysis has been updated from the original version to reflect new estimates of how long it would take for the amount of student debt owed...
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Fight Inflation by Lowering Deficits, Not Boosting Them
Yesterday, President Biden told reporters the Administration was nearing decisions on whether to cancel student debt by executive order and whether to...
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Reaching Fiscal Goals Under the Latest Baseline
The Congressional Budget Office’s (CBO) latest baseline projects that federal debt held by the public will rise to a record 110 percent of Gross...
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What Would Higher Interest Rates Mean for the Debt?
Interest payments on the national debt are projected to be the fastest-growing part of the federal budget. Under the Congressional Budget Office's...
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CBO Reports $63 Billion Deficit for May
The United States borrowed $423 billion in the first eight months of fiscal year 2022, with a $63 billion deficit in May, according to the latest...
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CBO Projects Record Debt, After Short Reprieve
For Immediate Release The Congressional Budget Office (CBO) released its Budget and Economic Outlook today. CBO projects high rates of inflation will...
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Milken Institute Hosts Panel on the National Debt's Impact on the Economy
On Tuesday, May 3, the Milken Institute hosted a panel discussion entitled “ The Road Ahead: The Impact of the National Debt on America’s Economy” as...
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CBO Analyzes the Economic Effects of Waiting to Fix the Debt
Waiting to address our high and rising national debt has substantial adverse consequences. High debt slows income growth, increases interest payments...