Huge deficits are already making bond investors nervous. Economists warn that could make it harder to respond to future crises.
Category: Congressional Budget Office
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Spending Fight Shows Limits of Trump Power to Change Fiscal Path
Efforts to cut government spending and eliminate waste are dwarfed by the rising costs of the social safety net programs and interest expenses.
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U.S. Budget Deficit Rises to $1.8 Trillion in 2024
New estimates from the Congressional Budget Office show continuing fiscal strain, despite steady economic growth.
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Trump’s Proposed Tax Cuts and Increased Tariffs Could Hurt Poorer Households
Some Republicans want to use revenue collected from higher duties on foreign goods to finance tax cuts. Economists say such a shift could widen the gap between the rich and the poor.
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Trump’s Proposed Tax Cuts and Increased Tariffs Could Hurt Poorer Households
Some Republicans want to use revenue collected from higher duties on foreign goods to finance tax cuts. Economists say such a shift could widen the gap between the rich and the poor.
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U.S. Debt on Pace to Top $56 Trillion Over Next 10 Years
Congressional Budget Office projections released on Tuesday show a grim fiscal backdrop ahead of tax and debt limit fights.
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U.S. Debt Races Toward Record This Decade, C.B.O. Warns
Recently passed spending limits have slightly improved the nation’s fiscal outlook.
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Biden’s Budget Underscores Divide With Republicans and Trump
The president’s $7.3 trillion budget proposal for the next fiscal year includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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Here’s the latest on the president’s priorities.
The president’s $7.3 trillion budget proposal for the next fiscal year includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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Biden Budget Will Underscore Divide With Republicans and Trump
The president’s fiscal 2025 budget proposal includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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A Tax Sunset Will Change What You Owe the I.R.S.
Important regulations expire at the end of next year, thwarting tax planning and creating a monumental fiscal challenge for Congress.
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The Federal Deficit Is Growing. This Is Why.
Tax receipts dipped unexpectedly last year. The Biden administration blames Republican tax cuts, but the truth is more complicated.