Tag Archives: public debt

GAO: Congress, Administration Should Focus on Establishing Long-Term Fiscal Strategy

Fiscal Strategy

The Government Accountability Office (GAO) has recommended that Congress and the administration implement a long-term fiscal strategy after the COVID-19 pandemic to help the country maintain its position to meet its social and security requirements and address public health emergencies and other future events. “Absent any action, debt held by the public is projected to surpass 200 percent of GDP by 2048,” the GAO report reads.

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CBO: Federal Budget Deficit at $159B After 4 Months of FY 2017

A new Congressional Budget Office report shows that federal budget shortfall hit $159 billion after the first four months of fiscal 2017, approximately $1 billion lower than the figure recorded for the same period in fiscal 2016. CBO said Tuesday total amount of receipts associated with individual and corporate income taxes as well …

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CBO Raises FY 2016 Federal Budget Deficit Projection to $590B

A Congressional Budget Office report predicts the federal budget deficit to hit $590 billion in fiscal year 2016, a figure $56 billion higher than the agency’s shortfall projection in March and $152 billion up from the previous fiscal year. CBO said Tuesday it forecasts public debt to rise from $14 trillion by …

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CBO: FY 2016 Federal Budget Deficit to Reach $534B

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 …

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CBO: Federal Deficit Down $34B Over 5-Month Period

The federal government’s budget deficit for the first five months of fiscal 2016 was $352 billion, down $34 billion from the shortfall recorded for the same period in fiscal 2015, the Congressional Budget Office reports. CBO said Monday the decline is partly attributed to a shift in the timing of some …

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CBO: Annual US Deficit Fell to Lowest Point in 8 Years

The Congressional Budget Office has published an infographic report that indicates the $439 billion U.S. budget shortfall the agency recorded for fiscal 2015 was the government’s smallest deficit since fiscal 2007. CBO said Wednesday federal debt held by the public at the end of FY 2015 was 74 percent of gross domestic product, the highest annual …

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CBO Lowers FY 2015 Deficit Projection to $426B

A new Congressional Budget Office report predicts the budget deficit to hit $426 billion, a figure $60 billion lower than the agency’s most recent shortfall estimates in March and $59 billion down from the previous fiscal year. CBO said Tuesday it reduced its budget deficit projection for 2015 due to higher-than-anticipated …

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