The federal government will rack up $12.2 trillion in deficits through 2029, according to a new projection from the nonpartisan Congressional Budget Office (CBO), an $809 billion increase from its last projection in May.
The Congressional Budget Office projected Thursday that the federal deficit would reach $896 billion for fiscal 2019, up $117 billion from the year before.
The federal budget deficit rose by $94 billion to $693 billion for the first half of fiscal 2019, the Congressional Budget Office estimated Friday in its monthly budget review.
A new report from government actuaries has revealed that the Congressional Budget Office was scandalously off in its estimates of the impact of Obamacare’s individual mandate, a miscalculation that has had significant ramifications for healthcare and tax policy over the past decade.
The U.S. economy was expected to lose $3 billion from the partial federal government shutdown over President Donald Trump’s demand for border wall funding, congressional researchers said on Monday as 800,000 federal employees returned to work after 35 days without pay.
The federal deficit will rise to $897 billion this year but isn’t expected to surpass $1 trillion for another three years, the Congressional Budget Office said in a report Monday.
A House bill to delay or repeal certain parts Obamacare would cost the federal government $51.6 billion over a decade, according to a new government analysis released Tuesday.
Debt as a share of the United States economy is on track to blow through the previous World War II-era record within two decades and keep rising from there, the Congressional Budget Office said in its annual long-term budget report.
President Trump’s proposed budget would add $2.3 trillion more to deficits over the next decade than the White House estimated, the Congressional Budget Office said Thursday.
The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.
Republicans’ tax cuts and the new spending bill Congress approved last month will send the economy surging this year to 3.3 percent growth — but will also send the deficit soaring back to the record levels of the early Obama years, the Congressional Budget Office said Monday.
Repealing Obamacare’s individual mandate would save the government $338 billion over a decade and result in 13 million more uninsured Americans in 2027, according to a new CBO score.
Republican senator Tom Cotton of Arkansas said repealing the Obamacare individual mandate would save $300 billion over the next 10 years.
Obamacare’s gross premiums would rise by an average of 20 percent next year and 25 percent by 2020 if President Trump cuts off payments to insurers, according to an analysis released Tuesday by the Congressional Budget Office.
The U.S. budget deficit is likely to fall by $60 billion in 2015 due to strong revenue gains, the Congressional Budget Office said on Tuesday, enabling the government to stave off default without a debt limit hike perhaps through early December.
Rising federal debt threatens to choke economic growth within a decade, beginning a death spiral that will sap revenue from government programs even as demands grow, forcing the government to borrow even more, Congress’ budget watchdog said in a frightening report Tuesday.
Confronted by the worst financial crisis in decades, the U.S. House of Representatives passed a $819 billion economic stimulus package, the biggest in the country’s history.