After All Those DOGE Cuts, Federal Spending Still Increased by $300 Billion
For the fiscal year that ended on September 30, the federal government spent more than $7 trillion and ran a $1.8 trillion deficit.
CBO
Trump's War on Economic Data Is a Dangerous Move for MAGA's Own Agenda
The Bureau of Labor Statistics, the CBO, and the Fed are far from perfect. But the U.S. needs a statistical system that is modern, agile, and protected from political interference.
The 'Big Beautiful Bill' Will Require Even More Borrowing Than Previously Thought
After accounting for the dynamic effects of the Trump-backed tax bill, the CBO concludes it will add $2.8 trillion to the deficit over 10 years.
The 'Big Beautiful Bill' Will Add $2.4 Trillion to the Deficit
That total will rise to about $3 trillion once the interest costs of more borrowing are included.
Trump Wants Lower Interest Rates. The Market Disagrees.
Even if the Fed tried to cut rates, inflation, investor reluctance, and a $25 trillion borrowing spree could keep them elevated for years.
Tariffs Failed in the Middle East—America Shouldn't Make the Same Mistake
Protectionism in Egypt and Iraq fueled corruption, stagnation, and smuggling—not prosperity.
Trump's Tariffs Will Shrink the Economy and Reduce Investment, CBO Says
Bonus: They're unpopular too, according to a new poll.
Federal Government Has 'Grown Too Big, Promised Too Much, Subsidized Too Many,' Warns Former GAO Boss
This week's House Budget Committee hearing showed bipartisan agreement about the seriousness of America's fiscal problems.
Biden and Harris' Record on Spending and Debt Is a Tragedy of Epic Proportion
When they entered the White House, the budget deficit was a pandemic-influenced $2.3 trillion, and it was set to fall to $905 billion by 2024. It's now twice what it was supposed to be.
America Is in a Debt Crisis. Will Trump or Biden Address It at the Debate?
The candidate who grasps the gravity of this situation and proposes concrete steps to address it will demonstrate the leadership our nation now desperately needs. The stakes couldn't be higher.
The GOP Once Claimed To Be the Party of 'Fiscal Responsibility.' So Why Not Reform Social Security?
Reasonable options include gradually raising the minimum retirement age, adjusting benefits to reflect longer life expectancies, and implementing fair means-testing to ensure benefits flow where they're actually needed.
The National Debt Is Making Us Poorer
The average American will lose between $5,000 and $14,000 annually by 2054 due to the burden of the growing national debt.
The Congressional Budget Office's Alternative Scenarios Forecast a Dire Economic Picture
Why aren't politicians on both sides more worried than they seem to be?
A Bipartisan Tax Hike Won't Fix This Deficit
The government needs to cut back on spending—and on the promises to special interests that fuel the spending.
Biden's Cognitive Shrinkflation
Plus: A listener asks if the state of Oregon’s policy on drug decriminalization should be viewed as a success.
Politicians Need To Stop Pretending the National Debt Is Sustainable
The reality raises questions about the kind of future we want to leave for the next generation.
Interest Rates Are High. GOP Presidential Candidates Need To Get Serious About It.
They will either reduce the ability to spend money or to cut taxes.
The U.S. Needs a Fiscal Commission Because Congress Won't Do Its Job
In the last 50 years, when the budget process has been in place, Congress has managed only four times to pass a budget on time.
Spending Recklessly in Good Times Is a Recipe for Disaster in Bad Times
Years ago, when interest rates were low, calls for the federal government to exercise fiscal restraint were dismissed. That was unwise.
Americans Learned a Lesson About Interest Rates. Washington Has Not.
Higher rates lead to more debt, and more debt begets higher rates, and on and on. Get the picture?
Are Government Shutdowns Good for Limited Government?
Plus: A listener asks whether younger generations are capable of passing reforms to entitlement spending.
It's Government Shutdown Theater, Again
Fiscal irresponsibility might eventually shut down the government, but at the moment it’s all for show.
Under Multiple Budget Scenarios, the Government's Numbers Still Don't Add Up
Balanced federal budgets aren’t even considered as a possibility.
This Election Season, Beware of These False Promises
Many politicians offer a simplified view of the world—one in which government interventions are all benefits and no costs. That couldn't be further from the truth.
The Fed Won't Save Us From the Inflation Iceberg
Plus: Was Gerald Ford right to pardon Richard Nixon?
The Debt Ceiling Deal Does Not Go Nearly Far Enough
Projections of huge savings are making the rounds. Nothing could be further from the truth.
Biden Falsely Bragged About Lowering the Budget Deficit. Now, It Is Predictably Rising Again.
Last year, Biden was trying to take credit for "the largest drop ever" in the federal budget deficit. Now, the deficit is almost three times as large as it was a year ago.
Biden's Student Loan Plan Could Cost Twice as Much as Projected
Unlike the Education Department's estimates, a CBO analysis considers how the new rules will encourage more students to take out loans they won't be able to pay back.
To Balance the Budget, Republicans Must Cut Military Spending, Trim Entitlements, or Raise Taxes
If Republicans refuse to gore their three sacred cows, a new CBO report shows that balancing the budget is literally impossible.
Paul Krugman Says Social Security Is Sustainable. It's Really Not.
Krugman sees benefit cuts as "a choice" but believes that implementing a massive tax increase on American employers and workers would be "of course" no big deal.
U.S. Will Add $18.8 Trillion in New Debt by 2033
Plus: Age verification for social media, a bill to ban cannabis "gatherings," and more...
Congress Can Reduce the Deficit by $7.7 Trillion in 10 Years
The Congressional Budget Office projects that future deficits will explode. But there's a way out.
Here's Why Biden Is Wrong About the Deficit
His administration has expanded deficits by $400 billion more than expected, even before we count recent spending.
Biden's Policies Have Increased, Not Reduced, Future Budget Deficits
Dissecting the president's misleading claims about falling deficits
New CBO Report Exposes Biden's Deficit-Reduction Misinformation
The president is trying to claim credit for falling deficits. Actually, his administration has overseen a $2.4 trillion increase in the long-term deficit.
Don't Wait! The National Debt Is Only Getting Worse
New CBO report shows that the longer Congress waits to deal with the debt, the bigger the problem becomes.
Without Budget Gimmicks, Biden's 'Build Back Better' Will Add $3 Trillion to the Deficit, CBO Says
Enough with the budget gimmicks. It's time for Democrats to admit that Biden's proposal is a long, long way from being fully paid for.
CBO: Biden's 'Build Back Better' Plan Will Add $367 Billion to the Deficit
The Congressional Budget Office's analysis of the bill is unlikely to prevent its passage through the House. A vote could happen later tonight.
The Bipartisan Infrastructure Bill Will Add More Than $250 Billion to the Deficit. Does Anyone Care?
A CBO report that might have sunk legislation in an earlier era was greeted with a bipartisan shrug.
Congress Continues to Spend Delusional Amounts of Money
Even without further spending increases, the Congressional Budget Office projects that the national debt will hit 107 percent of GDP in 2023.
America's Debt Will be Twice the Size of the Economy by 2050
The Congressional Budget Office warns that higher levels of debt will slow economic growth significantly in the years ahead.
After the Stimulus Binge, Brace for a Crash
Skyrocketing debt, higher borrowing costs, and a hobbled economy are predicted in the latest Congressional Budget Office report.
America's National Debt Will Be Larger Than the Economy Next Year
The Congressional Budget Office says the deficit will hit $3.3 trillion this year. The national debt will exceed the size of America's gross domestic product for the first time since the end of World War II.
The Federal Budget Deficit in June Was Bigger Than the Entire Federal Budget Deficit for 2018
Remember when $1 trillion annual deficits were worryingly large? Last month’s budget gap was $864 billion.
A Trillion-Dollar Deficit This Year Is Now Officially the Best Case Scenario
The coronavirus is going to crater tax revenues and hike spending. And the Congressional Budget Office says the deficit was going to exceed $1 trillion even before all that.
Coronavirus Is Going To Be Expensive. Too Bad the Government Is Already in Massive Debt.
Having failed to be fiscally responsible when it would have been relatively easier, our elected officials will now likely hike spending even further.
CBO Says $15 Federal Minimum Wage Will Cost 1.3 Million Jobs
The Congressional Budget Office says 17 million workers will see higher paychecks, but the poorest and least skilled are likely to be left out.
Man, This CBO Report About 'Unprecedented' Debt Levels Is a Bummer
The national debt will hit 140 percent of GDP before the end of the 2040s, and that's the optimistic scenario.
