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The Latest Breaking News from CBO

If you see any of these seven people in Liverpool city centre call the police

Faces of seven criminals banned from the city centre this year

Liverpool Echo

'Britain's angriest beggar' who attacked people for refusing to give him cash is jailed

Jason Allum, 36, has on several occasions chastised members of the public who refuse to give him money and has now been jailed for breaching an order in Cambridge's city centre

Daily Mirror

Man named one of Liverpool's 'most prolific shoplifters' banned from town

Gary Blower was caught stealing t-shirts from Go Outdoors

Liverpool Echo

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Trump, Bush tax cuts drive national debt

“The United States does not have a high-spending problem; it has a low-tax problem,” the report concludes

Salon

To Balance the Budget, Republicans Must Cut Military Spending, Trim Entitlements, or Raise Taxes

If Republicans refuse to gore their three sacred cows, a new CBO report shows that balancing the budget is literally impossible.

Reason

Chicken-or-egg game is on as Congress barrels toward debt limit

WASHINGTON — A House budget resolution will be delayed in part to allow for negotiations with President Joe Biden on a debt limit increase paired with some sort of concessions on spending and other policies acceptable to Republicans, according to House Budget Chairman Jodey C. Arrington.

Tribune News Service

Editorial: To be, or not to be, afraid of the federal budget?

Opinion editor's note: Editorials represent the opinions of the Star Tribune Editorial Board, which operates independently from the newsroom.

Tribune News Service

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Debt limit clouds outlook as Biden budget set to hit Thursday

WASHINGTON — President Joe Biden’s delayed budget for the upcoming fiscal year due Thursday will kick off what’s expected to be a lengthy battle over spending levels and priorities, with the debt ceiling deadline looming this summer casting a pall over the entire process.

Tribune News Service

Debt limit clouds outlook as Biden budget set to hit Thursday - Roll Call

President Joe Biden’s delayed budget due Thursday will kick off what’s expected to be a lengthy battle over spending levels and priorities.

Roll Call

CBO director to brief House members ahead of budget release

WASHINGTON — Congressional Budget Office Director Phillip L. Swagel will brief House members Wednesday on the agency’s budget and economic outlook as lawmakers consider whether to adjust spending levels in conjunction with lifting the debt limit.

Tribune News Service

CBO director to brief House members ahead of budget release - Roll Call

Congressional Budget Office Director Phillip L. Swagel will brief House members Wednesday on the agency’s budget and economic outlook.

Roll Call

What is the US national debt and how has it grown over time?

The national debt grew by more than $4 trillion in 2020 alone.

USAFacts

Karl W. Smith: Today's debt ceiling is tomorrow's dreaded debt bomb

As disconcerting as the U.S.’s current debt situation is, the outlook is even worse. When the bipartisan Congressional Budget Office updated its forecasts this month, it estimated that debt held by the public will climb to $46 trillion by 2033 from $31 trillion currently. This puts the country one step…

Tribune News Service

Paul Krugman Says Social Security Is Sustainable. It's Really Not.

Krugman sees benefit cuts as "a choice" but believes that implementing a massive tax increase on American employers and workers would be "of course" no big deal.

Reason

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Tribune News Service

Think tank out with new debt limit timing projection

WASHINGTON — The government will run out of cash to pay its bills by “summer or early fall” unless Congress lifts the statutory debt limit, the Bipartisan Policy Center estimated Wednesday.

Roll Call

Think tank out with new debt limit timing projection - Roll Call

The government could run out of cash to pay its bills by “summer or early fall," the Bipartisan Policy Center estimated Wednesday.

The Independent UK

Social Security and Medicare: Troubling math, tough politics

It seems no one wants to cut Social Security or Medicare benefits

Reason

U.S. Will Add $18.8 Trillion in New Debt by 2033

Plus: Age verification for social media, a bill to ban cannabis "gatherings," and more...

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The Guardian - UK

First Thing: US could default this summer unless $31.4tn debt ceiling raised

Historic federal debt default could occur before July, cautions non-partisan agency. Plus, whatever happened to middle age?

Tribune News Service

Government will hit debt limit as soon as July, CBO says

WASHINGTON — The federal government will run out of cash to pay all its bills sometime between July and September unless the statutory debt limit is lifted, the Congressional Budget Office warned Wednesday.

Roll Call

CBO: Debt limit to hit as soon as July, budget picture worsens - Roll Call

The federal government could run out of cash to pay all its bills sometime between July and September unless the debt limit is lifted.

Reason

The State of Our Union Sucks

The bipartisan (if shouty!) embrace of big-government nationalism ensures our populist moment won't end any time soon.

Fortune

Millennials and Gen Z won't have enough kids to sustain America's population—and it's up to immigrants to make up the baby shortfall

Immigrants will make up for the lag in new births in the U.S. in the coming decades, a recent government report predicts.

Reason

Whatever the Fate of the Fair Tax Act, Congress Should Still Abolish the IRS

Getting rid of the much-despised tax agency would be a good idea. It’s unlikely to happen anytime soon.

Manchester Evening News

Prolific booze and meat thief 'caused misery' to shop owners in town

Nicola Gregory appeared before a court last month

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