Latest
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The Deficit Was $2.2 Trillion Over Past Year
The federal budget deficit totaled $2.2 trillion over the past 12 months, up 64 percent from the $1.4 trillion deficit in Fiscal Year (FY) 2022 and...
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Interest Costs Will Grow the Fastest Over the Next 30 Years
According to the Congressional Budget Office’s (CBO) long-term baseline, federal spending as a percentage of Gross Domestic Product (GDP) will grow to...
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IRA Energy Provisions Could Cost Two-Thirds More Than Originally Estimated
At the time of its passage, the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) estimated that the Inflation Reduction Act...
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CBO: Social Security is Ten Years from Insolvency
The Congressional Budget Office (CBO) recently published detailed long-term projections for Social Security that project the financial outlook for the...
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New Poll Finds Widespread Support for Creation of a Bipartisan Fiscal Commission
A recent poll released by the Peter G. Peterson Foundation shows that a strong majority of Americans are increasingly concerned with the national debt...
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Chartbook: The Fiscal Outlook After the Debt Limit Deal
The recently-enacted Fiscal Responsibility Act (FRA) is the largest deficit reduction package in nearly a dozen years and an important step forward...
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CRFB Reaction to Supreme Court Student Debt Cancellation Ruling
The Supreme Court ruled today that the Administration’s student debt cancellation plan is illegal and will not be allowed to go forward. The following...
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Event Recap: The Fiscal Outlook After the Debt Limit Deal
The bipartisan Fiscal Responsibility Act (FRA), signed into law in May, is the largest deficit reduction legislation enacted in nearly a dozen years...
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Asa Hutchinson's Proposal to Reduce the Federal Civilian Workforce by 10 Percent
Republican presidential candidate Asa Hutchinson recently proposed shrinking the size of the federal civilian workforce, which we estimate could save...
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Analysis of CBO's June 2023 Long-Term Budget Outlook
Today, the Congressional Budget Office (CBO) released its June 2023 Long-Term Budget Outlook, projecting that the national debt is on an unsustainable...
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CBO Releases June 2023 Long-Term Budget Outlook
The Congressional Budget Office (CBO) just released its June 2023 Long-Term Budget Outlook that projects the nation's fiscal future over the next...
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Long-Term Projections Paint a Bleak Fiscal Picture
The Congressional Budget Office (CBO) released its Long-Term Budget Outlook today, which shows debt rising to 181 percent of GDP by 2053 under CBO’s...