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.
Remember when $1 trillion annual deficits were worryingly large? Last month’s budget gap was $864 billion.
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.
Having failed to be fiscally responsible when it would have been relatively easier, our elected officials will now likely hike spending even further.
The Congressional Budget Office says 17 million workers will see higher paychecks, but the poorest and least skilled are likely to be left out.
The national debt will hit 140 percent of GDP before the end of the 2040s, and that's the optimistic scenario.
Unless we make some big changes, things won't get much better.
At this rate we'll get there before the end of the century.
Larry Kudlow says President Trump's agenda has been reducing federal budget deficits, but CBO estimates say otherwise.
Entitlement spending, health care costs, and the GOP tax legislation will drive up the debt.
The Congressional Budget Office is about to release a report. Spoiler alert: It won't be pretty.
New CBO Report Says House-Passed Health Care Plan Would Leave 23 Million More Uninsured, Cut $119 Billion Off Federal Deficit
It would leave slightly fewer people without insurance coverage than under the original version of the bill, but would trim less from the federal deficit.
Analysis says it will add to deficit an cost jobs
If we're to get even close to balancing the books, "mandatory" spending is in for deep cuts.