The federal government is expected to generate $4.9 trillion in revenue in fiscal year 2024 but incur $6.5 trillion in outlays in the same time period, resulting in a projected budget deficit
MoreSens. Joe Manchin, D-W.Va., and Mitt Romney, R-Utah, have introduced bipartisan legislation to establish a bicameral fiscal commission that would present legislative solutions to strengthen the federal government’s long-term fiscal health. The
More by Naomi Cooper
The Congressional Budget Office projects the total federal deficits to drop from 5.8 percent of gross domestic product in 2023 to 5 percent by 2027 and then increase steadily over the next
More by Jane Edwards
The Congressional Budget Office projects $1 trillion in federal budget deficit in 2022 and expects federal debt held by the public to fall to 96 percent of gross domestic product by 2023
More by Jane Edwards
A Government Accountability Office report obtained by Deltek predicts the ratio of U.S. public debt to gross domestic product to grow and exceed the historical high of 106 percent in 1946 within
More by Jane Edwards
A new Congressional Budget Office report forecasts the federal budget deficit to hit $534 billion in fiscal year 2016, about $100 billion higher than the agencyâs shortfall estimates in the previous fiscal year. CBO
More by Jane Edwards
House Speaker John Boehner (R-Ohio) is in talks with the White House and Senate leaders to move forward a bill that would lift the U.S. debt limit, Politico reported Wednesday. Jake Sherman and Anna
MoreThe Government Accountability Office calls on Congress to align decisions on the debt limit with spending and revenue or work with the Treasury Department to enable flexibility in federal debt and cash management.
MoreThe Congressional Budget Office estimates the U.S. government will be at risk of defaulting on its debt sometime between October and November 2015 unless lawmakers strike a new debt-ceiling agreement. CBO said
MoreThe Congressional Budget Office estimates that the U.S. budget deficit for the current fiscal year will reach $506 billion, a $170 billion decrease from the shortfall level recorded in fiscal 2013. CBO’s
More