The Latest Breaking News from Congressional Budget Office

The U.S. government will pay close to $900 billion this year just in interest payments on the national debt.

Why aren't politicians on both sides more worried than they seem to be?

House Republicans are pushing their debt ceiling package to a vote

Senate Republican budget writers waged a multifront offensive on President Joe Biden’s fiscal 2024 budget request, while Democrats pointed to a Congressional Budget Office analysis to say House GOP budget plans are unrealistic. CQ Roll Call’s David Lerman, Peter Cohn and Paul M. Krawzak assess how Biden’s blueprint was received…

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.

Congressional Budget Office Director Phillip L. Swagel will brief House members Wednesday on the agency’s budget and economic outlook.

WASHINGTON — It’s a time-worn argument for raising the debt limit: Without increased borrowing authority, Social Security checks would stop flowing.

It’s a time-worn argument for raising the debt limit: Without increased borrowing authority, Social Security checks would stop flowing.

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…