Build Back Better Would Raise Deficit, CBO Says
With the CBO's earlier estimate of savings from tighter IRS enforcement, the legislation would boost the deficit by only $160 billion.
U.S. Budget Gap Jumps to $660B in March
Spending on coronavirus relief has "sent the federal debt soaring to levels not seen since the end of World War II as a proportion of the economy."
U.S. Budget Deficit Climbs to $572B in Q1
The increase in the deficit reflected in part spending on coronavirus relief programs including enhanced unemployment benefits.
Budget Deficit Forecast to Top $1 Trillion in 2020
"Changes in fiscal policy must be made to address the budget situation because our debt is growing on an unsustainable path," the CBO says.
U.S. Budget Deficit Widens to $984B in 2019
“The current levels of debt are unprecedented in peacetime during a growing economy, and the consequences of this irresponsible spending are unknown."
U.S. Budget Deficit Increases 23% in Nine Months
The budget gap could top $1 trillion for the full fiscal year.
U.S. Budget Gap Rises to $205B in November
“The budget picture is deteriorating as the U.S. taxes individuals and companies less and spends more, mostly on defense and benefit payments."
U.S. Budget Deficit Swells to $779B in FY 2018
The White House blames increased spending for the mounting deficit but its own data "suggest falling revenues were a far larger contributor."
U.S. Budget Deficit Widens to $77B in July
Increased government spending and tax cuts are “keeping the country on track to record its biggest annual deficit in six years."
U.S. Budget Deficit Widens to $208B in March
The U.S. government's rising debt "would have serious negative consequences for the budget and the nation," the CBO warned this week.
U.S. Budget Deficit Grows to $215 Billion
The February shortfall is an early indication of the effects of the GOP tax cuts, with withholding taxes falling 2%.