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The Latest Breaking News from CBO

The deficit just grew by $955 billion in 7 months. It's time for a constitutional fix to control the budget

Interest payments just hit $628 billion. Decades of failed congressional fixes prove that only a constitutional amendment can break Washington's addiction.

Fortune

Cost estimate for 'Golden Dome' missile defense system balloons to $1.2 trillion

It will likely cost about $1.2 trillion to develop and operate President Trump's planned "Golden Dome" missile defense system, according to a new Congressional Budget Office report.

Space

Trump's proposed 'Golden Dome' estimated to cost USD 1.2 trillion, far more than he initially said

President Donald Trump's ambitious "Golden Dome" missile defense system is projected to cost a staggering USD 1.2 trillion over two decades. This futuristic plan, intended to protect America, is significantly more expensive than initially announced. The Congressional Budget Office analysis highlights the substantial financial commitment required for this advanced defense…

The Economic Times

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'Trust Doesn't Collapse Overnight': Experts Warn US Debt Is Now Accelerating America's Rivalry With China

The US is projected to borrow over $2 trillion in a fiscal year, raising concerns among economists about fiscal sustainability and geopolitical implications, with interest payments rivaling major federal expenditures.

International Business Times

Treasury expected to borrow $2 trillion this year to continue functioning—more than $166 billion every month

"Markets will only tolerate our unsustainable borrowing for so long; the risk of a fiscal crisis gets higher as the days pass. We need deficit reduction urgently."

Fortune

Republicans Want To Borrow Every Single Dollar of the $72 Billion Bill To Fund ICE and Trump's Ballroom

The party of fiscal responsibility strikes again.

Reason

What is, and isn't, worrying about 100% debt to GDP

The details of how the debt got there and where it's going are quite a bit more problematic than the ratio itself.

Axios

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Interest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook

"In a 'Fiscal Dominance' regime, the Fed's ability to aggressively hike rates to curb inflation is constrained, as doing so risks a fiscal or financial crisis."

Fortune

‘Cut up the credit cards:’ Members of Congress are getting brutal about ‘embarrassing’ $39 trillion national debt

“It’s only going to get worse until we cut up the credit cards and get serious.”

Fortune

The debt crisis Congress has been ignoring could cost the average U.S. household $18,000 a year, according to a Brookings analysis

Taxing the rich doesn’t get remotely close to solving the debt crisis. So a solution will likely sweep across all income levels.

Fortune

Pentagon's DoD Pushes for $125M Rebrand to Department of War as Officials Call for 7,600 Changes to Federal Law

The Pentagon seeks to rename the Department of Defence to the Department of War, a move projected to cost up to £92.5 million and facing opposition from Democrats over financial concerns.

International Business Times UK

Trump’s ‘gold card’ visas were going to solve $39 trillion national debt. They’ve sold only one

Gold card revenue “may be earmarked for deficit reduction, but it actually could be more money than that,” Trump previously told reporters.

Fortune

America's national debt is heading to 175% of GDP. Here's why no president—including Trump—has the will to stop it

The Trump FY27 budget is just the latest installment in a decades-long bipartisan failure of spending discipline. Only a constitutional fix can break it.

Fortune

The director of the Congressional Budget Office—known for its gloomy national debt data—is very optimistic that a crisis will be avoided entirely

“Making progress to address the fiscal trajectory would be a positive for the U.S. economy,” Swagel said. “We can’t go on [with] the scolding narrative.”

Fortune

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The Guardian - US

Falling fertility, debt and AI: is the US headed toward a population crisis?

Americans having fewer kids plus an ageing population could be a recipe for disaster that further erodes social stability

Roll Call

Legislative branch hearing sidesteps last year’s drama

At a Senate Appropriations Legislative Branch Subcommittee hearing Wednesday, the heads of the Government Publishing Office, Government Accountability Office and Congressional Budget Office defended their agencies’ fiscal 2027 budget requests, skirting any mention of legislative dustups from last year. It was the panel’s first hearing of the year, as well…

Fortune

‘I am certain’: Harvard policy expert warns the true cost of the Iran war to U.S. taxpayers will exceed $1 trillion

Linda Bilmes, along with economist Joseph Stiglitz, previously calculated the true cost of the 2003 Iraq war was at least fourfold greater than initially projected.

Fortune

The U.S. government is spending $88 billion a month in interest on national debt, equal to its spending on both defense and education combined

Maya MacGuineas, president of the Committee for a Responsible Federal Budget, called on lawmakers to “ultimately fix the broken process that got us into this mess.”

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news in one place.

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Fortune

The ticking time bomb buried in Trump’s 2027 budget

$7.8 trillion in extra revenue, GDP growing at 3%, vanishing deficits, and a 42% defense hike—to skeptics Trump’s math just isn’t adding up.

Fortune

Trump, the $39 trillion national debt, rosy growth assumptions and the question of 'a sustainable path'

The White House is betting 3% GDP growth will shrink the deficit—but faster growth would likely drive up interest costs on the $39 trillion national debt.

Reason

Trump's Call for a $1.5 Trillion Military Budget Is Irresponsible, Wasteful, and Unrealistic

The proposal is "an enormous waste of taxpayer dollars and would make Americans less, not more, safe." Thankfully, Congress is unlikely to adopt it.

Fortune

‘There is no silver lining in this trajectory’: Budget watchdog warns of financial, inflation, or currency crisis due to $39 trillion national debt

“It took decades to get us into this hole, and it will take a concerted effort to get out of it.”

Axios

Washington ignores America's fiscal cliff

Deficits are at levels unseen outside major crises.

Fortune

The national debt just crossed $39 trillion—almost doubling since Trump vowed to erase it

Budget experts agree on one thing. The debt is on an "unsustainable" trajectory.

Roll Call

Rayburn building deemed at risk in push for major funding boost - Roll Call

The largest House office building is at risk of “catastrophic system failure,” the architect of the Capitol is set to warn Congress.

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