The Latest Breaking News from CBO

Despite growing tensions, a new CBO report shows increased immigration will likely drive economic growth in the U.S. over the next 10 years

The CBO's new estimate for the fiscal 2024 deficit is now $1.9 trillion, up from its prior view for $1.6 trillion issued in February and up from the 2023 deficit of about $1.7 trillion.

The candidate who grasps the gravity of this situation and proposes concrete steps to address it will demonstrate the leadership our nation now desperately needs. The stakes couldn't be higher.

The Congressional Budget Office reports the 2024 budget deficit will near $2 trillion.

Debt held by the public will rise from 99% of GDP this year to 122% by 2034—surpassing its previous high of 106% in 1946 at the end of the Second World War.

Changing politics and growing debt have House Republicans rethinking strategy for the tax cuts expiration in 2025.

This adjustment represents a 27% rise in the deficit forecast, attributed to factors such as increased Medicaid spending, the fallout from the 2023 banking crises, and the passage of a $95 billion aid package for Ukraine, Israel, and the Indo-Pacific region in April.

Congressional Budget Office report reveals a 0 billion increase in federal budget deficit, reaching record debt levels, posing challenges for future law...

CBO projects Federal Budget Deficit To Reach Top News.9 Trillion This Year.9 trillion deficit in 2024, trillion debt by 2034, highlighting fiscal challenges and need for solutions.

The fiscal situation has worsened, with spending higher than expected and revenue lower, the Congressional Budget Office said.

Reasonable options include gradually raising the minimum retirement age, adjusting benefits to reflect longer life expectancies, and implementing fair means-testing to ensure benefits flow where they're actually needed.