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
MoreThe federal government reported receipts amounting to $1.1 trillion in the first quarter of fiscal year 2024 and outlays amounting to $1.6 trillion, resulting in a budget deficit total of $509 billion.
MoreThe Congressional Budget Office has released its updated online tool designed to help users see the effects of a potential increase or decline in the annual defense budget on the size and
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A Congressional Budget Office report estimates that the U.S. Navy’s fiscal year 2024 shipbuilding plan to expand its fleet size to between 319 and 367 aircraft carriers, submarines, surface combatants and other
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The Congressional Budget Office examined the Department of Defense’s plans between 2024 and 2028 as outlined in the 2024 Future Years Defense Program and projected that defense costs under such plans would
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Senate President Pro Tempore Patty Murray, D-Wash., and House Speaker Kevin McCarthy, R-Calif., cleared Phillip Swagel to serve four more years as director of the Congressional Budget Office. Swagel, who started his
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A Congressional Budget Office report projects that plans to modernize, operate and maintain U.S. nuclear forces as stated in the fiscal 2023 budget requests of the departments of Defense and Energy would
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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
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The House voted 314-117 Wednesday to pass a bipartisan bill that would suspend the debt limit through Jan. 1, 2025, raise military spending by approximately 3 percent and reduce spending on domestic
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Treasury Secretary Janet Yellen sent a letter to congressional leaders warning that her department could default on its obligations if Congress fails to increase or suspend the borrowing limit as early as
More by Jane Edwards