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The Latest Breaking News from CRFB

What if Social Security Was Capped at $100,000 Annually?

One weird trick could extend Social Security's solvency while reducing payments to the wealthiest households. But it doesn't go far enough.

Reason

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.

Fortune

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Trump just raised the $39 trillion national debt with the largest budget hike since World War II—and nobody can figure out how to pay for it

“MAGA was told an untruth by Trump—no foreign wars, no adventurism,” Steve Hanke told Fortune. “This is a massive militarization.”

Fortune

Trump wants to add nearly $7 trillion to the $39 trillion national debt with his new military budget, watchdog warns

Trump's proposal would be "by far the largest year-over-year increase in defense spending in the post-WWII era," the CRFB said.

Fortune

10 Years Ago Today, Trump Promised To Eliminate the National Debt. Instead, It Has Doubled.

Trump's ridiculous, grandiose promise tells us something about the federal government's fiscal affairs and the president's approach to policy.

Reason

New Proposal Caps Social Security Benefits at $50K Yearly for Wealthy Retirees to Mitigate Insolvency Risks

A new proposal from the CRFB suggests capping Social Security benefits at $50,000 for high-earning retirees to prevent a total system failure by 2032. The move targets the top 0.05% of earners to shield the bottom 90% from an automatic 24% benefit slash. Senior advocacy groups like AARP warn the…

International Business Times UK

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The Trump Administration’s proposed capital gains tax cut could add nearly $1 trillion to the national debt within the decade, think tank warns

“We need more revenue, not less,” Committee for a Responsible Federal Budget president Maya MacGuineas said.

Fortune

$39 trillion national debt is 'an embarrassing milestone,' think tank says. 'Clearly headed in the wrong direction'

"Markets are paying close attention to our fiscal situation, and every time we hit a new milestone, we risk spooking them," said Maya MacGuineas.

Fortune

Elon Musk Backs Warren Buffett's 5-Minute Plan to Fix US National Debt Nearing $40T

Elon Musk has endorsed Warren Buffett's radical '5-minute' proposal to eliminate the US deficit as the national debt hits a record $39 trillion (£30.7 trillion) amid 2026 recession fears.

International Business Times UK

The Federal Spending Spree Will Make the Next Economic Shock Even Worse

Growing federal debt hobbles the government’s ability to respond to crises.

Reason

‘This is the way’: Elon Musk endorses Warren Buffett’s famed 5-minute plan to fix the national debt

The richest man in the world joins prominent financial leaders in supporting a plan to lower the deficit to 3% of GDP.

Fortune

A 'debt spiral,' before a fiscal crisis: interest on the national debt will be growing faster than GDP in just 5 years, think tank warns

The Committee for a Responsible Federal Budget sees a critical threshold crossing by 2031—and the consequences could be nearly impossible to reverse.

Fortune

'The conflict in Iran demonstrates why we need to keep our national debt at a reasonable level': think tank sees economic emergency around the corner

The Committee for a Responsible Federal Budget warns that war spending could tip into a fiscal crisis — and it's calling for a pre-built escape plan.

Fortune

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Fortune

America's never had such high national debt heading into an economic shock. We need a 'break glass' plan, think tank warns

The U.S. national debt has reached 100% of GDP—a level not seen since WWII. A leading fiscal watchdog is calling on Congress to build a "Break Glass Plan" before the next crisis hits.

Fortune

Trump touts tariffs as a budget fix. But the brutal truth is ‘they’re very weak’ and barely dent the $39 trillion national debt

An international tax policy expert told Fortune any form of tariff fails to “move the needle one way or the other.”

Fortune

Trump's loss of $1.7 trillion in tariff revenue will send the national debt to $58 trillion by 2036, think tank projects

The Supreme Court's invalidation of the president's sweeping import levies has blown a bigger hole in federal finances.

Fortune

Interest on the $38.8 trillion national debt has tripled since 2020, and it already costs taxpayers more than defense and Medicaid

Here’s when Medicare falls below interest costs, according to CBO projections.

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Fortune

Health care spending is surging just as Trump’s tax cuts cripple its funding

Health spending is eating up a growing share of the government’s shrinking budget.

Fortune

Trump claims America is ‘winning so much.’ The IMF agrees, adding that Trump’s trade policies are the only thing holding it back from even more

The best time to chip away at the national debt and balance the budget is now, when the economy is strong, says the IMF. Trump’s trade tariffs are making that difficult.

Fortune

‘The state of our union is more indebted than ever’: Budget watchdog continues war of words with Trump White House

The Committee for a Responsible Federal Budget took heat over the weekend, with Scott Bessent saying its leader “should be ashamed.”

Fortune

‘Maya MacGuineas should be ashamed’: Scott Bessent launches war of words with the nonpartisan think tank that agrees with Trump on tariffs

For her part, MacGuineas said Bessent’s diatribe was “a bit of an odd response.”

Fortune

America’s debt problem just got worse by $2 trillion with the Supreme Court’s tariff ruling

Many shoppers and companies might cheer the drawdown of Trump’s tariffs, but the truth is America really needed that money.

Fortune

The ‘alternative scenario’ of an even bigger national debt disaster is in play after the Supreme Court ruled Trump’s tariffs illegal

Federal debt was set to reach 120% of GDP by 2036, the CBO projected, but that assumed the tariffs would stay in place.

Fortune

$56 trillion national debt leading to a spiraling crisis: budget watchdog warns the U.S. is walking a crumbling path

Trump is putting the U.S. economy on a "sugar high" and leaving other people holding the bill when it comes due a decade from now, according to the CRFB.

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