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The Latest Breaking News from CBO

The tariffs are raising $100 billion less than Trump expected. Pantheon Macro sees 3 reasons why, starting with China

Scott Bessent said in August that tariffs would raise “well over half a trillion, maybe toward a trillion-dollar number.” It hasn’t panned out that way.

Fortune

Smucker enters Budget Committee race as odds-on favorite - Roll Call

Rep. Lloyd K. Smucker, the favorite to become the next top Republican on the House Budget Committee, is eyeing a second reconciliation bill.

Roll Call

Trump's Recent Tariff Rollbacks Erase Nearly $800 Billion In Expected Debt Reduction: CBO

The Congressional Budget Office (CBO) has released new projections indicating that the recent rollbacks of President Donald Trump‘s aggressive tariff strategy have nullified an anticipated $800 billion reduction in debt over the next decade.

Benzinga

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CBO slashes tariff deficit forecast, complicating Trump's $2,000 checks

Senate Republicans would rather the tariff money go toward deficits than dividends.

Axios

Trump's retreats on tariffs have already wiped out $800 billion of expected deficit reduction, CBO estimates

The Congressional Budget Office is projecting $2.5 trillion of deficit reduction over 11 years, down from its $3.3 trillion projection in August.

Fortune

SNAP Survived Shutdown, But New Work Rules Threaten Millions

Just as food aid resumed after the federal government reopened, millions of Americans now risk losing Supplemental Nutrition Assistance Program benefits under a new law that tightens who qualifies and shifts more costs to states.

Benzinga

Brazen Boots shoplifter jailed and banned from City of London

George Lupascu, 38, stole health and skincare products from shop on Moorgate

Evening Standard

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The unprecedented government shutdown will weigh on a US economy already under stress

The six-week government shutdown that came to an end late Wednesday will be another drag on an economy already facing many challenges, though the full impact will take months to measure

The Independent UK

US Congressional Budget Office Hacked: China Suspected in Ongoing Breach Threat

The Congressional Budget Office (CBO) faces an ongoing cyberattack, with suspected Chinese state-backed hackers targeting sensitive US budget and policy data.

International Business Times UK

Shutdown to leave mark on US economy from lost paychecks, canceled flights

The longest federal government shutdown in U.S. history appears to be nearing an end, but not without leaving a mark on an already-struggling economy

The Independent UK

US Congressional Budget Office hit by suspected cyberattack - here's what we know

Foreign adversaries may have accessed a congressional network.

TechRadar

Congressional Budget Office hacked by suspected foreign entity: report

The breach could expose sensitive government data and communications with House and Senate offices

The Independent UK

Congressional Budget Office investigating hack of its systems

A foreign adversary is likely behind the hack, the Washington Post first reported.

Axios

The government shutdown won't be completely recouped—and it could cost the economy up to $14 billion, estimates say

The report says lost goods and services from furloughed workers’ downtime won’t be regained once the government reopens.

Fortune

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Reason

Trump's 'Golden Dome' Missile Defense Could Cost $3.6 Trillion: Report

The pie-in-the-sky space system promises to be a government spending bonanza—and might be a very bad idea.

The Guardian - US

US could lose between $7bn and $14bn during shutdown, budget office says

Federal agency also estimates country’s GDP will reduce by one to two percentage points over shrinking demand

Fortune

Why is Washington acting like the U.S. is in a recession?

On paper, the economy is growing and unemployment is low. But federal government policymakers are behaving like there is an imminent crisis.

Fortune

Budget watchdog on $38 trillion national debt: ‘It’s tough to decide what the most appalling part is of today’s announcement’

The Committee for a Responsible Federal Budget is glum: “The reality is that we’re becoming distressingly numb to our own dysfunction.”

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news in one place.

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Reason

Don't Extend Obamacare Subsidies To End the Government Shutdown

Government interference in health care should be reduced, not expanded.

Kiplinger

Trump Tax Bill 2025: What Changed and How It Affects Your Taxes

From standard deduction amounts to tax brackets and Medicaid cuts, here’s what individual filers need to know about tax changes in Trump's "big beautiful bill."

Benzinga

Trump's Immigration Crackdown Could Cut 15 Million From US Workforce By 2035, Study Shows

The stringent immigration policies implemented by the Trump administration would significantly reduce the U.S. workforce over the next decade, according to a study, potentially impacting the nation’s economy.

Fortune

America is ‘going broke slowly’ says J.P. Morgan, as national debt balloons and tariff revenue looks shaky

The risk is “that we move from going broke slowly to going broke quickly,” Kelly says.

Euronews

Government shutdown could be longest ever, warns House Speaker Johnson

With Congress and the White House in stalemate, some are eyeing the end of the month as the next potential deadline to reopen the government.

Reason

After All Those DOGE Cuts, Federal Spending Still Increased by $300 Billion

For the fiscal year that ended on September 30, the federal government spent more than $7 trillion and ran a $1.8 trillion deficit.

Fortune

$1.8 trillion deficit revealed during 'pointless and wasteful government shutdown,' budget watchdog says

The U.S. is on track to borrow nearly $2 trillion per year for the next decade, the CRBF notes. "How can anyone think this is sustainable?"

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