Congressional Budget Office

WASHINGTON — A mandate that the Departments of Defense and Veterans Affairs use two existing programs to help service members leaving the armed forces overcome risk factors for suicide would cost a modest $500,000 through 2028, the Congressional Budget Office... Read More

WASHINGTON — The Biden administration changed its rules on who qualifies for student loan forgiveness Thursday as seven states filed lawsuits to block the plan that would wipe away $10,000 of debt for most borrowers. The states said in their... Read More

WASHINGTON — With Labor Day weekend now in the rearview mirror, Congress began to reconvene on Capitol Hill on Tuesday with much to do and little time to do it before the midterm elections are in full swing. The Senate... Read More

WASHINGTON — The Congressional Budget Office released a long-term economic forecast on Wednesday that has the national debt rising to 185% of gross domestic product in 2052, with interest payments to cover that debt poised to quadruple as a share... Read More

WASHINGTON — Gun safety legislation introduced by Rep. Jerrold Nadler, D-N.Y., passed in the House of Representatives on a 223-204 vote, sending a slate of new proposed restrictions on firearms to the Senate. Nadler’s package of bills contains provisions to... Read More

WASHINGTON — As lawmakers struggle again with the nation’s debt ceiling, Democrats on a financial committee suggested Wednesday the economy would get a bigger bang for the buck without the limit on spending. Republicans said eliminating the debt ceiling equates... Read More

WASHINGTON — A federal law banning surprise medical bills U.S. patients may receive following an emergency room visit, air ambulance trip, or receiving care out-of-network went into effect on Jan 1., but health policy expert Jack Hoadley finds that gaps... Read More

WASHINGTON — If the debt limit remains unchanged and the Treasury Department follows through on transferring $118 billion to the Highway Trust Fund on Dec. 15, the federal government could run out of cash before the end of the month,... Read More

WASHINGTON -- The bipartisan infrastructure package set to be voted on in the U.S. Senate, perhaps as early as Saturday, would add $256 billion to the federal deficit, the nonpartisan Congressional Budget Office said Thursday The budget office estimated that... Read More

WASHINGTON — The Congressional Budget Office released its long-term budget outlook last week projecting federal debt held by the public will exceed the nation’s gross domestic product by the year’s end.  The CBO painted a complicated picture in its analysis... Read More

WASHINGTON -- The COVID-19 pandemic is winding down but lawmakers in Congress said Wednesday their work to halt the hunger that resulted from it continues. This week, an estimated 9.6 million jobs remain lost compared with the start of the... Read More

BALTIMORE (AP) — To pay out his coronavirus relief package, President Joe Biden must spend an average of $3.7 billion every day for the rest of this year. That's $43,000 every second of every day until midnight chimes on 2022.   For the... Read More

WASHINGTON - A Congressional Budget Office report estimating that persistent budget deficits will cause the federal debt to double in size over the next 30 years, "provides a troubling snapshot of America’s fiscal outlook, which we know will only get... Read More

WASHINGTON — According to experts convened by the political advocacy group The Concord Coalition, the nation’s long standing fiscal, monetary, and economic challenges were made more difficult by the pandemic, but they are not insurmountable.  Leaders from the Congressional Budget... Read More

WASHINGTON - The Congressional Budget Office estimates that the U.S. economy will return to its pre-pandemic level by mid-2021, but employment levels will not fully return to normalcy until 2024. The nonpartisan federal agency that provides budget and economic analyses... Read More

WASHINGTON — The Congressional Budget Office recently released two new outlook reports. These projections are an update of the U.S. deficit, debt, spending, and revenue over the next decade and beyond, given current laws in place. The pair of reports... Read More

WASHINGTON – The federal debt owed by the United States government is expected to grow over the next 30 years to almost twice the size of the nation’s economy, according to the Congressional Budget Office’s Long-Term Budget Outlook report. While... Read More

WASHINGTON -- A new report by the Congressional Budget Office found that D.C. statehood would carry a price tag for taxpayers, but could also result in significant savings if the District takes on costs currently covered by the federal government.... Read More

WASHINGTON - The coronavirus pandemic shaved roughly $3.9 trillion from the U.S. economy and will likely prevent the nation's quarterly growth rate from climbing above zero percent through the end of 2021, the nonpartisan Congressional Budget Office said Tuesday. The... Read More

WASHINGTON - Federal funding for U.S. highway projects could soon run out, according to a new report by the Congressional Budget Office, a nonpartisan agency that gives lawmakers advice on economic and budgetary matters. The Highway Trust Fund -- a... Read More

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

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

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

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

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