CBO Says Coronavirus Outbreak and Response Will Quadruple the Federal Deficit
Federal Budget
CBO Says Coronavirus Outbreak and Response Will Quadruple the Federal Deficit
2020-04-24 20:22:06
by Dan McCue

WASHINGTON - Due to a combination of the passage of multiple economic stimulus bills and a deep recession caused by the coronavirus outbreak, the federal deficit for the 2020 fiscal year will quadruple to $3.7 trillion, the Congressional Budget Office... Read More

CBO: Trump’s Budget Would Add Trillions to Deficit, Even Before Coronavirus
Federal Budget
CBO: Trump’s Budget Would Add Trillions to Deficit, Even Before Coronavirus

WASHINGTON — The Trump administration’s fiscal 2021 budget request would add $5.4 trillion more to the cumulative 10-year deficit than the White House originally estimated, according to a Congressional Budget Office analysis released Monday. That would mean increased deficits during... Read More

Budget Deficit Poised to Break $1 Trillion Despite Strong Economy
Federal Budget
Budget Deficit Poised to Break $1 Trillion Despite Strong Economy
2020-01-28 21:07:47
by Dan McCue

WASHINGTON - The federal budget deficit will likely top $1 trillion this year, despite the continued strength of the U.S. economy, the nonpartisan Congressional Budget Office said Tuesday. The report follows an increase in new spending last year and the... Read More

Federal Deficit Reached $984 Billion in FY2019, Highest in 7 years, CBO estimates
Federal Budget
Federal Deficit Reached $984 Billion in FY2019, Highest in 7 years, CBO estimates
2019-10-10 20:35:07
by Dan McCue

WASHINGTON - The federal deficit reached $984 billion in fiscal year 2019, with spending far out pacing revenue, according to an estimate released by the nonpartisan Congressional Budget Office this week. This would be an increase of $205 billion over... Read More

Federal Deficit Growing Faster Than Expected, Will Top $1 Trillion Next Year, Budget Office Says
Federal Budget
Federal Deficit Growing Faster Than Expected, Will Top $1 Trillion Next Year, Budget Office Says
2019-08-21 18:06:15
by Dan McCue

WASHINGTON - The federal budget deficit is growing faster than expected and will reach $1 trillion next year, the non-partisan Congressional Budget Office said Wednesday. Worse, over the next decade, the federal government will rack up $12.2 trillion in deficits... Read More

Federal Debt on Track to Reach 'Unprecedented' Levels, CBO Says
Economy
Federal Debt on Track to Reach 'Unprecedented' Levels, CBO Says
2019-06-25 21:04:05
by Dan McCue

WASHINGTON - The federal debt is on track to reach unprecedented levels in the next 30 years and will rise to 144 percent of the nation's gross domestic product by 2049 if current laws are maintained, the Congressional Budget Office... Read More

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