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The Latest Breaking News from Congressional Budget Office

US House votes 220-204 to curb Trump’s Iran war powers; 7 Republicans back move

The US House has taken a definitive stand, voting to curtail military involvement in Iran without authorization. In a rare bipartisan move, seven Republicans sided with Democrats to support this war powers resolution. It calls for troop withdrawal while maintaining the capacity to defend personnel and installations. The Congressional Budget…

The Times of India

Iran war has cost the US more than $38 billion so far, says Congressional Budget Office

The nonpartisan Congressional Budget Office reports that up to $3 billion more is being spent on the war each month, depending on the intensity of fighting.

Euronews

Iran war cost hits $38 billion, forecast to rise $3 billion a month, CBO says

The six-month U.S. war against Iran has cost $38 billion through August 1, with expenses projected to rise by $3 billion monthly, the Congressional Budget Office said. The conflict has depleted munitions stockpiles, raised energy prices and could increase inflation by 0.5% in early 2027, straining US defence readiness and…

The Economic Times

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US national debt exceeds $40 trillion for the first time, fuelled in part by Trump tariffs

The US gross national debt surpassed $40 trillion for the first time, Treasury data showed on Wednesday, exceeding earlier forecasts as borrowing, interest costs and long-term obligations rose. Total public debt reached $40.05 trillion on Tuesday, above a Congressional Budget Office forecast of $39.4 trillion by the end of fiscal…

France 24

A Bipartisan Hepatitis C Elimination Bill Is Stalled in the Senate Over Its Congressional Budget Office Score

A bipartisan bill to expand hepatitis C testing and treatment has stalled in the Senate over a CBO cost estimate its sponsors call disappointing.

Medical Daily

The national debt is over 100% of GDP and most of Congress is ignoring wishes to rein it in. It’s time to amend the Constitution

Today, U.S. debt held by the public currently stands at a staggering $31.68 trillion, a little more than 100% of GDP. According to the nonpartisan Congressional Budget Office (CBO), if Washington continues to embrace its standard operating procedure, that figure is projected to climb to a stunning 175% of GDP…

Fortune

Trump promised a ‘Golden Dome’ to stop missiles. Now, experts say it’s a $1.2tn gift to defense contractors with a fatal weakness

Donald Trump’s “Golden Dome” missile defense system is shaping up to be one of the most expensive military projects in U.S. history and experts say it might not even work when it matters most. The nonpartisan Congressional Budget Office (CBO) estimated the system will cost a staggering $1.2 trillion over…

The Mary Sue

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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

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…

Roll Call

CBO: Federal deficits and debt to worsen over next decade

The Congressional Budget Office projects worsening federal deficits and rising debt over the next decade, driven by increased spending on Social Security, Medicare, and debt service payments

The Independent UK

Budget office expects Federal Reserve to cut rates in 2026

The Congressional Budget Office has released new economic projections, expecting the Federal Reserve to cut short-term rates in 2026

The Independent UK

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

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

Foreign adversaries may have accessed a congressional network.

TechRadar

Obamacare insurance prices will jump up 26% next year, report predicts

Enhanced subsidies keeping premiums affordable for millions will expire, threatening to more than double what households pay out of pocket

The Guardian - US

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The Independent UK

Unemployment, inflation and GDP growth will be worse this year than projected, budget office says

The Congressional Budget Office has released new economic projections, indicating that unemployment, inflation and overall growth will worsen in 2025 before improving over the next year

Axios

Trump immigration crackdown could spur U.S. population decline as soon as 2031

Population decline could drive labor shortages, higher prices and a crisis of care for the elderly.

GOBankingRates

I Asked ChatGPT What $3 Trillion in New Debt Really Means for America — Here’s What It Said

With the Congressional Budget Office projecting $3.3 trillion in new debt from recent tax and spending legislation, we asked ChatGPT to break it down.

Benzinga

Trump Touts 'Incredible' Tariff Strategy After Congressional Budget Office Projects $4 Trillion Deficit Cut, Even As Economists Warn Of Slower Growth

On Friday, President Donald Trump celebrated a Congressional Budget Office report projecting that his sweeping tariffs will reduce U.S. deficits by $4 trillion over the next decade, even as analysts caution the levies could weigh on economic growth and face legal challenges.

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The Independent UK

US national debt reaches a record $37 trillion, the Treasury Department reports

The U.S. government’s gross national debt has surpassed $37 trillion, setting a new record

The Guardian - US

Trump tax bill to add $3.4tn to US debt over next decade, new analysis finds

Congressional Budget Office report estimates bill will leave 10m more Americans without health insurance by 2034

GOBankingRates

Here’s How Much Every Tax Bracket Would Gain — Or Lose — Under Trump’s ‘Big, Beautiful Bill’

After many months of touting the 'Big, Beautiful Bill,' President Donald Trump finally passed it with the approval of the House and Senate. How will it affect Americans' wallets?

The Independent UK

Republicans slammed online for celebrating children going hungry and millions losing Medicaid from Trump’s bill

Republicans gave thumbs up and danced in the House as they celebrated stripping health insurance from millions of fellow Americans.

Reason

Republican Holdouts

Plus: Zohran Mamdani doesn't understand what New York's families need, Lia Thomas titles revoked, and more...

The Independent UK

Senate megabill would explode debt and kick 11.8 million off Medicaid: ‘Our fiscal house is basically on fire’

Over a decade, the bill would add at least $3.3 trillion to the national debt, according to the Congressional Budget Office

The Conversation

What is reconciliation − the legislative shortcut Republicans are using to push through their ‘big, beautiful bill’?

The word “reconciliation” sounds benign, even harmonious.

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