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The Latest Breaking News from CBO

The Federal Government Just Posted the Largest Annual Budget Deficit Since COVID

Tax revenue increased by about 3 percent last year, but spending increased twice as fast. And interest payments on the debt cost more than $1.1 trillion.

Reason · Oct 9

America Hits a New Debt Record at $40 Trillion and Counting

President Donald Trump has surpassed Barack Obama's record for most debt amassed by a president.

Reason · Oct 5

U.S. debt is increasingly at the mercy of the market as interest costs surge while elections add more risk to the debt ceiling, ratings agency warns

"This trajectory points to an unsustainable medium-term fiscal path and leaves the sovereign increasingly exposed to shifts in market sentiment and financing conditions."

Fortune · Oct 3

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Refugees and Asylees Start Losing Medicaid as Nine States and DC Report More Than 281,000 at Risk

Refugees and asylees lose Medicaid eligibility Oct. 1, with 281,000+ at risk in nine states and DC. Here's who is exempt and what families can do.

Medical Daily · Oct 2

How a Republican Victory in November Could Affect Families, Retirees, and Workers

The November 2026 midterm elections won’t put a president on the ballot, but they could still influence some of the rules that determine what families...

Saving Advice · Oct 1

The National Debt Has Exploded. The Reckoning Is Still Coming.

Even the best-case scenario means less investment, slower wage growth, and a budget increasingly spent on past obligations.

Reason · Oct 1

Americans Are Wealthier Than 30 Years Ago. Here's the Data To Prove It.

Americans with upper, middle, and lower incomes are all better off today than in the 1970s or 1990s, new CBO data shows.

Reason · Sep 30

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Warren Buffett Says America Is Doing Something ‘Unsustainable’ and Doesn’t Know If We Have 2 Years or 20 —‘This Can’t Go On Forever’

Warren Buffett warned that America’s growing fiscal deficit is “unsustainable,” saying it could mean two years or 20, but “can’t go on forever.”

Barchart · Sep 29

BlackRock’s CEO Is Backing a $1.5 Trillion Social Security Fund That Needs 75 Years to Work. CBO Projects the Trust Fund Runs Short In 2032.

No bill has been introduced. The CBO and the Trustees also differ by a year on when the combined funds run short and measure the cut differently.

Barchart · Sep 27

Here's how much worse U.S. debt could get as Treasury yields surge to the highest levels in two decades

Publicly held debt would explode to 222% of GDP by 2056, under a scenario where interest rates rise by 1 percentage point.

Fortune · Sep 26

Social Security Could Face 26% Benefit Cuts by 2032 — Newly Retired Couples Could Lose $17K a Year

Social Security benefits could fall 26% after the retirement trust fund is depleted in late 2032, CBO projects, unless Congress acts to close the funding gap.

International Business Times UK · Sep 24

Veterans Forced to Retire After Combat Injuries Could Get Major Pay Boost Under New House Bill

A House bill could restore full military retirement pay and VA disability compensation for combat-injured veterans medically retired before 20 years, but it remains in committee.

International Business Times UK · Sep 24

D.C.'s affordability headache has a silver bullet, new study shows: Tackling $40 trillion national debt would boost household income by $36,000

"Deficit reduction can further reduce inflation by lowering self-reinforcing inflation expectations to the extent it reduces the likelihood that future policymakers will aim to inflate away the national debt."

Fortune · Sep 23

Trump’s Iran war bill hits $45.1 billion and counting

The Pentagon estimates the US conflict with Iran has cost $45.1 billion. This figure surpasses earlier Congressional Budget Office projections for the war. The Pentagon's estimate includes war-related expenses and additional fuel costs. However, it does not cover repairs or indirect military operation costs. The conflict's ongoing nature suggests continued…

The Economic Times · Sep 20

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The Times of India · Sep 19

Iran war costs US $45.1 billion; fatalities possibly higher than 18 reported by Pentagon

The human and material cost of America’s war with Iran is proving larger than previously disclosed, with the Pentagon telling Congress that the conflict has cost $45.1 billion so far, while a Washington Post report said the number of US military fatalities may also be higher than the Pentagon’s publicly…

Roll Call · Sep 18

Pentagon’s latest Iran war cost estimate: $43.6 billion

The Iran war has cost $43.6 billion as of this month, the highest official estimate to date, the Pentagon told Congress’ defense oversight panels this week. The cost estimate comes as polls show Americans increasingly oppose the war, partly over its impact on the economy, and the issue is looming…

The Independent UK · Sep 18

Republicans held more than 30 hearings on Benghazi. They haven’t held any specifically on Trump’s Iran war

More than 200 days into the conflict, congressional Republicans have yet to hold single standalone public hearing

Reason · Sep 16

Pentagon Auditors Say the Iran War Has Cost $33 Billion. The Real Price Tag Is Far Higher.

The Congressional Budget Office says the inflationary consequences of the war will be felt well into 2027.

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International Business Times UK · Sep 16

US House Moves To Pull Forces From Iran as Seven Republicans Join Democrats as Costs Climb Past $38B

The House has again voted to direct Donald Trump to end US hostilities against Iran, while a new estimate puts Pentagon costs at $38 billion as legal and political disputes continue.

Fortune · Sep 16

Trump may insist war in Iran is 'small potatoes'—but it's costing $3 billion a month, on top of $38 billion already spent, reports budget watchdog

These funds reflect the cost of replacing expended munitions and equipment lost in battle, the CBO wrote, as well as increased flying hours, increased fuel costs, and "other operations."

Euronews · Sep 16

Iran war has cost the US more than $38 billion so far, says Congressional Budget Office

The nonpartisan Congressional Budget Office reports that up to $3 billion more is being spent on the war each month, depending on the intensity of fighting.

The Economic Times · Sep 16

Iran war cost hits $38 billion, forecast to rise $3 billion a month, CBO says

The six-month U.S. war against Iran has cost $38 billion through August 1, with expenses projected to rise by $3 billion monthly, the Congressional Budget Office said. The conflict has depleted munitions stockpiles, raised energy prices and could increase inflation by 0.5% in early 2027, straining US defence readiness and…

The Guardian - US · Sep 15

US House votes for third time to end Iran war after $38bn cost is revealed

Damaging budget report estimates cost will grow by $3bn per month and stockpiles of weapons could take five years to rebuild

Roll Call · Sep 15

Iran war has cost $38 billion and counting, CBO says

The Iran war directly cost the Pentagon $38 billion through July and is likely to consume $2 billion to $3 billion more per month if recent hostilities in the region continue, the Congressional Budget Office reported Tuesday. The CBO report’s estimate of the war’s direct impact on the federal budget is…

Fortune · Sep 14

You’re going to pay more for health insurance in 2027 as employers see costs jumping for the fifth straight year

Health insurance costs are rising so fast they could eat into workers’ paychecks next year, according to a survey of 1,800 U.S. employers

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