Tag Archives: federal debt

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 the next 15 to 25 years and continue to rise beyond that period. John Slye wrote in a blog …

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 agency’s shortfall estimates in the previous fiscal year. CBO said in the March 2016 report that it predicts public debt to reach 86 percent of gross domestic …

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 Palmer write that the speaker hopes to send the bill to the House floor soon as he prepares …

The 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. GAO said in a July report to Congress the delay in raising the debt limit affects the market for …

The 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 Congress passed the Temporary Debt Limit Extension Act last year to extend the U.S.’ borrowing authority through March …

The 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 updated budget and economic outlook report indicates that federal debt will be 74 percent of the U.S. gross …

The Congressional Budget Office has released its 2014 long-term budget outlook that forecasts federal budget deficits between fiscal years 2015 and 2024 to reach a total of nearly $7.6 trillion. The U.S. could also run into a fiscal crisis if it fails to control a growing federal debt, CBO said …