Latest
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Treasury: $1.5 Trillion Deficit in First 10 Months of Fiscal Year
Read moreThe United States borrowed $1.5 trillion in the first ten months of fiscal year 2024, including $244 billion in July, according to the latest Monthly...
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12-Month Rolling Deficit Mostly Unchanged After July 2024
Read moreThe federal budget deficit totaled $1.6 trillion over the 12 months between August of 2023 and July of 2024 based on estimates released today by the...
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CBO Estimates $1.5 Trillion Deficit for First 10 Months of Fiscal Year
Read moreThe United States borrowed $1.5 trillion in the first ten months of fiscal year 2024, including $242 billion in July, according to the latest Monthly...
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Student Borrowers Deserve Solutions, Not More Legal Battles
Read moreLast week, the Department of Education announced it will take the “next step toward additional debt relief” for student loan borrowers. In particular...
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CBO's June 2024 Budget and Economic Outlook
Read moreThe Congressional Budget Office recently released its June 2024 Update to the Budget and Economic Outlook. This report updates the February 2024...
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Reconciliation for Deficit Reduction
Read moreNext year, Members of Congress may choose to use a mechanism known as reconciliation to fast-track the enactment of tax or spending changes. The...
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Donald Trump's Suggestion to End Taxation of Social Security Benefits
Read moreEarlier today, former President Donald Trump suggested eliminating the partial income taxation of Social Security benefits, which currently helps fund...
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Gross National Debt Reaches $35 Trillion
Read moreThe gross national debt of the United States reached $35 trillion last Friday, seven months after the previous milestone reached at the end of last...
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Meeting Fiscal Goals Under CBO’s June 2024 Baseline
Read moreIt would require nearly $10 trillion of deficit reduction to stabilize debt at its current share of the economy over the next decade, according to the...
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Bipartisan Fiscal Forum Leaders Letter Calls to Address Debt
Read moreBipartisan Fiscal Forum co-chairs Rep. Scott Peters (D-CA) and Rep. Bill Huizenga (R-MI) recently led a letter to House Speaker Mike Johnson (R-LA)...
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Trump and Biden: Partisan Breakdown of New Debt
Read moreIn their time in office, both former President Trump and President Biden approved trillions of dollars in new ten-year borrowing both for COVID...
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Trump and Biden: Timing of New Debt
Read moreIn a recent analysis , we estimated that President Trump approved $8.4 trillion of new ten-year borrowing during his term in office, while President...