Debt & Deficits
Latest
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The Biden Administration Has Approved $4.8 Trillion of New Borrowing
Read moreNote: We published a more comprehensive, up-to-date comparison analysis of the amount of new ten-year borrowing approved by both Presidents Trump and...
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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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How Long Before Cancelled Student Debt Would Return?
Read moreNote: This analysis has been updated to reflect President Biden’s announced cancellation plan . You can read the original version here. President...
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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...
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Budget Experts Urge Congress to Enact Deficit Reduction
Read moreToday, 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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Analysis of CBO's July 2022 Long-Term Budget Outlook
Read moreToday, the Congressional Budget Office (CBO) released its July 2022 Long-Term Budget Outlook. Although CBO’s extended baseline is based on outdated...
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CBO Releases July 2022 Long-Term Budget Outlook
Read moreThe Congressional Budget Office (CBO) just released its July 2022 Long-Term Budget Outlook, its first extended baseline since March 2021. CBO's long...
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CBO’s Long-Term Budget Outlook Forecasts Debt In Uncharted Territory
Read moreThe Congressional Budget Office (CBO) released its Long-Term Budget Outlook today, which shows debt rising to 185 percent of GDP by 2052 under CBO’s...
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The Economy Needs an Inflation Reduction Act
Read moreSenator 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
Read moreThe 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
Read moreAfter two decades of uninterrupted borrowing – including three years in which deficits surpassed 10 percent of the economy – the U.S. national debt is...