Debt & Deficits
Latest
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W&M Tax Bill Undermines FRA Savings
Read moreThe American Families and Jobs Act (AFJA) that recently passed the House Ways and Means Committee would add $320 billion to the deficit over the next...
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Treasury Reports $1.2 Trillion Deficit For First 8 Months of Fiscal Year 2023
Read moreIn the first eight months of Fiscal Year 2023, the United States borrowed $1.2 trillion, including $240 billion in May, according to the latest...
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How Much Would the Fiscal Responsibility Act Save?
Read moreThe House-passed Fiscal Responsibility Act of 2023 (FRA) would suspend the debt limit and meaningfully reduce budget deficits – but by how much...
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It’s Time for a New Fiscal Commission
Read moreYesterday, Speaker McCarthy suggested the idea of a bipartisan fiscal commission to explore long-term budgetary issues. The following is a statement...
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Debt Explodes Under Alternative Scenarios
Read moreThe Congressional Budget Office's (CBO) new ten-year budget projections estimate that debt will reach a record 119 percent of Gross Domestic Product...
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Meeting Fiscal Goals Under CBO's May 2023 Baseline
Read moreWe estimate that it would take $16.0 trillion of deficit reduction to balance the budget over a decade, $3.5 trillion to stabilize debt at 110 percent...
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CBO Releases May 2023 Baseline
Read moreThe Congressional Budget Office (CBO) today released new ten-year budget projections, again confirming that the national debt is on an unsustainable...
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Treasury Confirms $925 Billion Deficit For First 7 Months of Fiscal Year 2023
Read moreIn the first seven months of fiscal year 2023, the United States borrowed $925 billion, according to the latest Monthly Treasury Statement from the...
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Q&A: Everything You Should Know About the Debt Ceiling
Read moreThe federal debt ceiling was raised in December of 2021 by $2.5 trillion to $31.381 trillion, which lasted until January 19, 2023, according to a...
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Maya MacGuineas on MSNBC's "The Sunday Show"
Read moreCommittee for a Responsible Federal Budget President Maya MacGuineas recently joined MSNBC's "The Sunday Show" with Jonathan Capehart to discuss the...
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CBO Scores the Limit, Save, Grow Act
Read moreUpdate (4/26/2023): The Congressional Budget Office released an estimate of the House Rules Committee amendments to the bill, reducing the savings of...
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ARCHIVE: What's in the Limit, Save, Grow Act?
Read moreUpdate (4/25/2023): The Congressional Budget Office has released an official score of the Limit, Save, Grow Act; read our analysis of that score here...