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The Latest Breaking News from CRFB

The $38 trillion national debt is to blame for over $1 trillion in annual interest payments from here on out, CRFB says

Welcome to "the new norm": interest payments over $1 trillion every year from here on out, to service the large and growing national debt.

Fortune

‘This is a bad idea made worse’: Senate Dems’ plan to fix Obamacare premiums adds nearly $300 billion to deficit, CRFB says

The plan to protect Obamacare would cost nearly $550 billion over 10 years if it were made permanent, the budget watchdog said.

Fortune

Trump’s gambit to save Republicans from a giant health insurance spike comes with a $50 billion price tag, CRFB estimates

The $38 trillion national debt, which always seems to be growing, could expand even further if Trump extends ACA subsidies, as reports indicate.

Fortune

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read the most diverse news in one place.

The shutdown 'accomplished nothing and caused significant harm' to many people, budget watchdog says, giving 'new meaning to fiscal irresponsibility'

"It's hard to imagine the bar for dysfunctional government getting any lower than it is right now," said the Committee for a Responsible Federal Budget.

Fortune

Trump's $2,000 tariff 'dividends' would cost twice as much as the revenue coming in, budget watchdog warns

“If tariff dividends are paid annually, deficits would increase by $6 trillion over ten years,” per the Committee for a Responsible Federal Budget.

Fortune

The $18,000 Warning Sign: How Social Security's Funding Gap Threatens Your Retirement

If you're married and retired or about to retire, you and your spouse could begin losing more than $18,000 per year in Social Security benefits if Congress fails to shore up the solvency of the trust fund for the retirement benefit program by 2033, according to Barron's.

Benzinga

Trump’s tariff revenue is soaring off a ‘significant increase,’ budget watchdog says—but the $38 trillion national debt still looms

Despite this surge in tariff revenue, the deficit still totaled $1.8 trillion, or roughly 6% of GDP. And if the Supreme Court strikes the tariffs down …

Fortune

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CRFB Slams $1.8 Trillion Deficit Amid 'Pointless And Wasteful' Shutdown: 'Will Lose Our Status As A Superpower'

The Committee for a Responsible Federal Budget (CRFB), a nonpartisan budget watchdog, condemned the ongoing U.S. government shutdown as “pointless and wasteful”, while unveiling the staggering $1.8 trillion federal deficit for the fiscal year 2025.

Benzinga

$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?"

Fortune

Trust funds that finance Medicare and Social Security are at risk of insolvency within 7 years, cutting benefits up to 24%, a new report warns

A couple turning 60 this year would face an $18,400 Social Security cut, according to the Committee for a Responsible Federal Budget.

Fortune

Trump's tariffs are bringing in a 'very significant' amount of revenue, top analyst says: Roughly $350 billion a year

Fortune's Shawn Tully and Steve "the money doctor" Hanke have argued that they bear a strong, uncanny resemblance to a tax western Europe has had for decades.

Fortune

This ‘economic sugar high’ won’t last, CRFB warns, touting analysis predicting long-term stagnation and $600 billion in annual borrowing through 2028

“An economic sugar high doesn’t mean sustained growth,” says the Committee for a Responsible Federal Budget. This happened in 2017, too, it notes.

Fortune

Trump is bringing in enough revenue from tariffs to cut deficits by $4 trillion over the next decade, CBO says

In just two months, Trump added another $1.5 trillion of deficit reduction in the form of new tariffs, CBO said. Still, the One Big Beautiful Bill Act will raise deficits by $3.4 trillion.

Fortune

‘The nation’s finances have deteriorated’ since Trump took office, CRFB says, gaming out the scenarios up to a $28.5 trillion deficit

The baseline scenario shows cumulative deficits reaching $22.7 trillion by 2035, and that’s if everything goes according to plan.

Fortune

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GOBankingRates

Here’s How You May Lose $18,100 in Social Security in 2033 and What To Do About It

You could lose up to $18,100 in Social Security by 2033—learn why it’s happening, who’s affected and what steps you can take to protect your benefits.

Fortune

Trump is bringing in enough revenue from tariffs to have a serious impact on the $37 trillion national debt, budget watchdog says

It’s the equivalent of a new payroll tax or a 17% cut in the size of the military, according to a top think tank.

Benzinga

Warren Buffett Said Social Security Should Never Be Cut — Now Retirees Face Losing $18,000 A Year Unless Congress Moves Before The Clock Runs Out

Warren Buffett doesn't toss around warnings lightly. But at the 2005 Berkshire Hathaway annual meeting, he made one of his most direct moral declarations: "Anything that would take Social Security payments below their present guaranteed level is a mistake."

Benzinga

Warren Buffett's 2005 Warning Echoes Louder As Social Security Faces $18,100 Benefit Cut By 2033, CRFB Warns

Social Security is seven years from a fiscal cliff that would slash benefits for millions of retirees unless Congress acts, a new analysis by the Committee for a Responsible Federal Budget (CRFB) warns.

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Fortune

Warren Buffett's longtime Social Security warning is coming to fruition, with retirees facing an $18,000 annual cut

The Committee for a Responsible Federal Budget projects that Social Security’s main trust fund will be insolvent by the end of 2032, triggering automatic and painful benefit cuts.

Roll Call

Checking the math on White House, GOP claims about ‘Big Beautiful Bill’ - Roll Call

Republicans say the 'big beautiful bill' will reduce the deficit, but economists say making the tax cuts permanent will do the opposite.

Reason

Republican Reconciliation Package Will Lead to $3 Trillion Annual Deficits

A new analysis from the Committee for a Responsible Federal Budget estimates that the national debt will equal nearly 130 percent of GDP by 2034.

Reason

Elon Musk Implausibly Claims 'Competence and Caring' Can Cut the Federal Budget Deficit in Half

The DOGE director wildly exaggerates what can be accomplished by tackling "waste, fraud, and abuse" in government spending without new legislation.

Reason

Keeping These Tax Cuts Is a Bad, Expensive Idea

Everyone loves lower taxes, but cutting them without reducing spending is bad news for the national debt.

International Business Times UK

Trump's Plan To Cut Social Security Taxes May Benefit Millions, Especially Top Earners, But Risks Insolvency In Six Years

Trump's plans to eliminate Social Security taxes could affect revenues flowing into OASI and HI trust funds by $1.5 trillion in the next ten years.

Fortune

With Trump's election, extending expiring tax cuts should be 'easy'

But his other economic proposals could offset the savings.

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