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Tag Archives: national debt

Sen. Jim Inhofe, Rep. Mac Thornberry Urge White House to Back $733B DoD Budget for Fiscal 2020

Sen. Jim Inhofe (R-Okla.) and Rep. Mac Thornberry (R-Texas) have called on the Trump administration to back away from the plan to impose a $33B cut to the Defense Department’s budget for fiscal 2020. Inhofe and Thornberry, chairmen of the Senate and House Armed Services Committees, wrote in a Wall Street Journal commentary piece posted Thursday that such a move would force DoD to enforce cuts in “areas where most money can be saved quickly—troops, new equipment, training and maintenance—as it did under sequestration in 2013.”

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John Bolton Says Federal Budget Deficit Has National Security Implications

National Security Adviser John Bolton recently said that the U.S. budget deficit, at its current level, has national security implications, Defense News reported Friday. Last month, the Treasury Department and the Office of Management and Budget announced via a joint statement that, in fiscal 2018, the country had incurred a budget deficit worth $779B, or 3.9 percent of the country's gross domestic product.

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CBO Forecasts $468B in US Budget Deficit for Fiscal 2015

A Congressional Budget Office report estimates national debt will climb to 74 percent of the U.S. gross domestic product this year, more than twice the debt level held in 2007 and the most since 1950. CBO said Monday it also forecasts the federal budget deficit to decrease from $483 billion …

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CBO: Interest on Federal Debt to More Than Triple by 2024

A new Congressional Budget Office report forecasts that interest expenses on the national debt will grow from $231 billion this year to $799 billion by 2024. The $799 billion estimate represents 3 percent of gross domestic product, the highest ratio to be recorded in 18 years, CBO said Wednesday. CBO …

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