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The Latest Breaking News from CBO

Biden's Student Loan Plan Could Cost Twice as Much as Projected

Unlike the Education Department's estimates, a CBO analysis considers how the new rules will encourage more students to take out loans they won't be able to pay back.

Reason

Faster IRS offering better picture on looming debt 'X-date'

That big infusion of cash that Congress approved last year to shape up the beleaguered IRS is having an unexpected side benefit

The Independent UK

The Clock Is Ticking: U.S. Could Default on Debt Payments by June 1

It's time for President Joe Biden and House Speaker Kevin McCarthy to strike a deal that will avoid a default and cut spending.

Reason

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What's in the GOP bill to lift debt limit, cut spending

House Republicans are pushing their top priorities in a bill to raise the debt limit

The Independent UK

Scope of COVID-19 funding cuts emerges as debt limit flashpoint - Roll Call

Democrats are jumping on the House GOP plan to recoup unspent pandemic aid in their debt limit bill, arguing it will harm veterans programs.

Roll Call

Woman brought so much misery to residents that she's now banned from entire town

Lauren Wilson, 26, described as a "prolific offender" by local police, faces being thrown in jail if she enters Macclesfield town centre before April 2026

Daily Mirror

‘They’re doing this by stealth’: how the Met police continues to target Black music

Exclusive: London’s force denies conflating rap with criminality, but venues accuse them of ongoing racial profiling and censorship

The Guardian - UK

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Woman BANNED from town centre and local supermarkets after bringing 'misery to residents'

Lauren Wilson, 26, has been ordered to adhere to a Criminal Behaviour Order (CBO) for the next three years

Manchester Evening News

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

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

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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

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.

Roll Call

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.

Tribune News Service

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.

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Roll Call

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.

USAFacts

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.

Tribune News Service

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…

Reason

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.

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

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