Debt & Deficits
Latest
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CBO Reports $667 Billion Deficit for First 6 Months of Fiscal Year
Read moreThe United States borrowed $ 667 billion in the first six months of fiscal year 2022, with a $ 191 billion deficit in March, according to the latest...
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What Would the President's Budget Look Like With Build Back Better?
Read moreThe President's Fiscal Year (FY) 2023 budget proposal released last week omits details on the core of the President's agenda, the Build Back Better...
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Debt-Funded Restaurant Relief is Unwarranted
Read moreThe House of Representatives today passed a $55 billion relief package aimed towards restaurants and other small businesses, including $42 billion for...
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Student Debt Pause Suggests Lack of Seriousness on Inflation and Deficits
Read moreAccording to news reports, the Administration will once again extend the current moratorium on student debt repayments, this time from May 1 through...
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An Overview of the President's FY 2023 Budget
Read moreMoments ago, the Biden Administration unveiled its Fiscal Year (FY) 2023 budget proposal, outlining some of the President’s tax and spending...
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What We Hope to See in the President's FY 2023 Budget
Read morePresident Biden is slated to release his Fiscal Year (FY) 2023 budget proposal on March 28. The President's budget is meant to provide a roadmap for...
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CBO Reports $475 Billion Deficit for First 5 Months of Fiscal Year
Read moreThe United States borrowed $475 billion in the first five months of fiscal year 2022, with a $216 billion deficit in February, according to the latest...
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Heritage Foundation Releases 2022 Budget Blueprint
Read moreThe Heritage Foundation recently released their 2022 Budget Blueprint, a list of over 200 specific policy proposals that would “roll back excessive...
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Did President Biden Reduce the Deficit by $1 Trillion?
Read moreIn his first State of the Union address, President Joe Biden stated that he would be "the only president ever to cut the deficit by more than one...
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Bipartisan House Group Sends Letter Calling for Budget Reforms
Read moreToday, a bipartisan group of 24 members of the House of Representatives sent a letter to House leadership calling for the inclusion of budget process...
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Q&A: Gross Debt Versus Debt Held by the Public
Read moreThe Q&A has been updated here. On January 31, 2022, the federal government's gross debt exceeded $30 trillion for the first time. This mark serves as...
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FACT SHEET: Are Deficits in Decline?
Read moreLast month, the federal government ran a surplus of $119 billion, the first monthly surplus since September 2019. The Fiscal Year 2022 deficit is...