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The Latest Breaking News from CRFB

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

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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.

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

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‘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.

Fortune

A U.S. 'debt spiral' could start soon as the interest rate on government borrowing is poised to exceed economic growth, budget watchdog says

CRFB warned the actual fiscal outlook could be far worse than even the latest sobering projections.

Fortune

Trump's own Big Beautiful Bill could add $5.5 trillion to the deficit and sabotage his plan to 'grow out' of the national debt crisis

Prior to the passage of the One Big Beautiful Bill, Trump’s “growth” math stood a chance of closing the gap. Now it’s much harder to see it working.

Fortune

'Some form of crisis is almost inevitable': The $38 trillion national debt will soon be growing faster than the U.S. economy itself, watchdog warns

"The United States is deeply indebted, and its finances are on an unsustainable long-term trajectory," says the Committee for a Responsible Federal Budget.

Fortune

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Fortune

As Trump throws a bone to Gen Z on student debt, watchdog calls it an 'incoherent political giveaway,' straight out of Biden's playbook

Student-debt collections are being halted again, as they have for over half a decade now.

Fortune

Trump's $1.5 trillion military budget would add $5.8 trillion to the national debt, with interest, CRFB says

Meanwhile, the Peterson Foundation updated its projection: the U.S. would be spending more on defense than the next 35 countries combined.

Fortune

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.

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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

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.

Benzinga

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.

Fortune

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 …

Benzinga

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.

Fortune

$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?"

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