Debt & Deficits
Latest
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President's Budget Would Add More to Debt With Tax Cut Extensions
Read morePresident Joe Biden's Fiscal Year (FY) 2022 budget includes many significant changes that would add nearly $1.4 trillion to deficits through FY 2031...
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CBO Reports $2.1 Trillion Deficit for First Eight Months of FY 2021
Read moreFor Immediate Release The United States borrowed nearly $2.1 trillion in the first eight months of fiscal year 2021, according to the latest Monthly...
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Maya MacGuineas: Biden's Budget Reflects His Priorities, but Leaves Debt Unchecked
Read moreMaya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently wrote an opinion...
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Partial Student Debt Cancellation is Poor Economic Stimulus
Read moreLast year, we estimated that fully canceling student debt would produce eight to 23 cents of economic activity for every dollar of cost and speculated...
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An Overview of the President’s FY 2022 Budget
Read moreMoments ago, President Joe Biden unveiled his Fiscal Year (FY) 2022 budget proposal, outlining his tax and spending proposals and their effects on the...
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CBO Releases Budget Projections Under Three Scenarios
Read moreLast week, the Congressional Budget Office (CBO) released a letter outlining how enacted legislation and certain amounts of additional spending would...
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What Would it Take to Stabilize the Debt?
Read moreFederal debt held by the public is now larger than annual economic output and is on track to reach 113 percent of Gross Domestic Product (GDP) by 2031...
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Eugene Steuerle: How Existing Budgetary Commitments Could Affect President Biden’s Domestic Policy Goals
Read moreThe COVID-19 pandemic and accompanying recession laid bare many of the needs of working families and children, as well as federal, state, and local...
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CRFB Launches Suite of Budget Games
Read moreToday the Committee for a Responsible Federal Budget launched Budgeting for the Future, a suite of interactive games related to the federal budget and...
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New Poll Finds Americans Worry About the Debt and Want the Budget More Balanced Between Generations
Read moreA new Ipsos poll finds that a strong majority of Americans are concerned about the national debt and want federal spending to be more balanced between...
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Senator Lummis Introduces Sustainable Budget Act
Read moreSenator Cynthia Lummis (R-WY) recently introduced the Sustainable Budget Act with Senators Joni Ernst (R-IA), Kevin Cramer (R-ND), Mike Rounds (R-SD)...
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Kinzinger and Phillips Call for a Bipartisan Commission to Address the Deficit
Read moreRepresentatives Adam Kinzinger (R-IL) and Dean Phillips (D-MN) recently introduced a joint resolution to establish a National Committee on Fiscal...