CBO says Democrat social spending bill to grow deficit by $367 billion, undercutting Biden claim
The Congressional Budget Office estimated on Thursday that President Biden’s Build Back Better Act will increase the nation’s deficit by $367 billion.
deficit
Trade Deficit Hits Record High, Billions Larger With China, Mexico
The U.S. trade deficit increased in September to $80.9 billion according to Commerce Department data, setting a new record as American exports declined and supply chain issues continued to plague U.S. ports.
Federal deficit totaled $2.77 trillion in fiscal year 2021, second highest after 2020
The federal budget deficit for fiscal year 2021 topped $2.77 trillion, the Biden administration announced on Friday.
House passes government funding and debt limit increase destined to hit Senate filibuster
The House passed a stopgap government funding bill paired with an increase in the federal borrowing limit that will likely face a GOP filibuster in the Senate.
U.S. Current Account Deficit Widens to 14-Year High in Second Quarter
The U.S. current account deficit increased to a 14-year high in the second quarter as businesses boosted imports to replenish depleted inventories amid robust consumer spending.
$3,586,456,000,000: Federal Tax Collections Set Record Through August
The federal government collected a record $3,586,456,000,000 in total taxes through first eleven months of fiscal 2021 (September through August), according to the Monthly Treasury Statement.
US Trade Deficit Hits All-Time Record
The United States trade deficit has increased by a record amount, as data released by the Department of Commerce on Thursday showed.
Federal Taxes and Spending Set Records Through June
The federal government set new records for taxing and spending through the first nine months of fiscal 2021 (October through June), according to the Monthly Treasury Statement.
CBO projects US deficit will soar to $3 trillion this year
The Congressional Budget Office is projecting that the United States’s deficit will balloon to $3 trillion in 2021.
Federal Taxes, Spending and Deficit All Set Records Through May
The federal government set new records in the taxes it collected, the spending it engaged in and the deficit it ran through the first eight months of fiscal 2021 (October through May), according to the Monthly Treasury Statement.
Biden Budget: $14.5 Trillion in Deficits Over Next 10 Years
The budget proposal that President Joe Biden released today calls for the federal government to run a cumulative deficit of $14.53 trillion ($14,531,000,000,000) over the next ten years.
Federal Taxes, Spending and Deficit All Set Records Through April
Federal taxes, spending and the federal deficit all set records through the first seven months of fiscal 2021 (October through April), according to the Monthly Treasury Statement.
U.S. trade deficit soars to record high
As cargo ships clogged U.S. ports, the trade deficit soared to a record high in March. The Commerce Department reported Tuesday that the trade gap widened by 5.6%.
U.S. budget deficit surges to record $1.7 trillion — nearly double the previous high
The U.S. government’s budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dollars to spending last month.
US Trade Deficit Hit All-Time High in Biden’s First Full Month in Office
The U.S. trade deficit hit an all-time high in February as Americans bought more imported goods in President Joe Biden’s first month in office.
Aided by COVID-19, U.S. current account deficit rose 35% in 2020
The U.S. current account deficit grew by 4.2% in the final quarter of 2020, aided by the COVID-19 pandemic, the Commerce Department said Tuesday.
For the First Time in 4 Decades, Congress Is Forcing U.S. Taxpayers to Pay for Abortions
The U.S. House of Representatives gave final approval Wednesday to the nearly two trillion dollar COVID relief bill that includes a boost in unemployment payments and stimulus checks for American families. The measure is controversial on many levels because it includes deficit spending and non-COVID pet projects. Now there’s an even bigger concern that’s come up for pro-life Americans because the Hyde Amendment is notably absent from the massive spending bill.
CBO projects whopping $2.3 trillion budget deficit for fiscal year 2021
The Congressional Budget Office (CBO) is projecting a whopping $2.3 trillion budget deficit in fiscal year 2021, though that deficit would be $900 billion less than the one in 2020.
Budget deficit totals record $735.7 billion through January
The U.S. government’s budget deficit hit $735.7 billion through the first four months of the budget year — an all-time high for the period — as a pandemic-induced recession cut into tax revenues while spending on COVID relief measures sent outlays soaring.
Incoming Biden administration hopes to quickly pass $1.9 trillion relief bill
The incoming Biden administration will work toward the speedy passage of its $1.9 trillion coronavirus relief plan, Voice of America reports.
