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%.
Tax Cuts: Be Careful What You Wish For
The short-term economic boost that the GOP-proposed tax cuts would generate wouldn't be sustainable without growth in the already-tight labor market.
CBO: Shutdown Looms If Debt Ceiling Isn’t Lifted
Projected budget deficits have also increased amid ‘surprisingly weak tax collections.’
Trade Gap Widens to Record $502B in 2016
The stronger dollar, larger federal budget deficits, and low national saving rates could force further widening in the trade deficit.