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US Federal Debt to Rocket to $28.2 Trillion Over Next Decade

The US Congressional Budget Office (CBO) has issued a report predicting that the outstanding federal debt of the United States will balloon to $19.4 trillion at the end of this year, and hit $28.2 trillion by 2026.

Small Spending Restraints Would Go a Long Way Toward Solving Our Debt Problem

Yesterday, the Congressional Budget Office released its new ten-year forecast of how much debt Uncle Sam will accumulate based on its projected spending and revenue estimates. Not surprisingly, CBO reports that under the current system budget deficits will grow rapidly in the next ten years, reaching $1 trillion in 2024 and $1.2 trillion in 2026. Show More Summary

Today’s Federal Deficit Report Hints at Looming Financial Crisis in the U.S.

The projected federal deficit report released by the Congressional Budget Office was frightening. The post Today’s Federal Deficit Report Hints at Looming Financial Crisis in the U.S. was originally published at The Wall Street Examiner. Follow the money!

New CBO Numbers Confirm Simple Task of Balancing the Budget with Modest Spending Restraint

It’s not a big day for normal people, but today is exciting for fiscal policy wonks because the Congressional Budget Office has released its new 10-year forecast of how much revenue Uncle Sam will collect based on current law and how...Show More Summary

New estimates: Deficit increase after years of declines

The Congressional Budget Office is also lowering its projections of economic growth over the next several years, in part because of the disappointing results so far in 2016. On the budget deficit picture in the longer term, CBO's latest report sees a slight improvement, mostly because the government is expected to pay lower interest rates on its almost $20 trillion debt.

A New Report on America's Wealth Gap Shows Bernie Sanders is Right to Be Grumpy

A new Congressional Budget Office report examining trends in family wealth confirms what most Americans know from experience: the poor are buried in debt, the middle class is stuck, and—shocker—the most wealthy are piling up all theShow More Summary

How the GOP feeds the PC beast

(Scott Johnson) John Fund reports that congressional Republicans increased the Department of Education’s Office for Civil Rights with a very generous budget increase last year. Fund takes up the matter in the NR column “How Republicans feed the beast of political correctness.” OCR is perhaps the most left-wing office in the federal bureaucracy. Show More Summary

Higher Interest Rates, not Entitlement Spending, Is Cause of Projected Rise in Budget Deficit

A NYT article on the prospects for the federal budget deficit under the next president told readers: "Even without new spending, the federal budget deficit is expected to rise. By 2020, the Congressional Budget Office estimates, theShow More Summary

Stop Bleeding Red Ink, Make America Sustainable Again

The Congressional Budget Office recently released its long-term budget outlook. There isn’t much new there; we are still in the red, and it will only continue to get worse. Considering

Paul Ryan's Calls for Eliminating Almost the Entire Federal Government

No, that is not some new concession that the Speaker made to appease Donald Trump, this is his budget wonkiness. According to the analysis of Ryan's budget by the Congressional Budget Office, he would reduce the non-Social Security,Show More Summary

The Six Most Important Takeaways from CBO's New Long-Run Fiscal Forecast

The Congressional Budget Office has just released the 2016 version of its Long-Term Budget Outlook. It’s filled with all sorts of interesting data if you’re a budget wonk (and a bit of sloppy analysis if you’re an economist). If you’re...Show More Summary

The CBO confirms it: Sequestration is a failure

The Congressional Budget Office released its long-term budget outlook, confirming bipartisan failure to stanch the flood of red ink. The CBO summarizes: If current laws governing taxes and spending did not change, the United States would face steadily increasing federal budget deficits and debt over the next 30 years, according to projections by the Congressional […]

CBO:In 30 Years, U.S. Will Have Highest Debt-To-GDP Ratio In Our History—141%

Congressional Budget Office, The 2016 Long-Term Budget Outlook: If current laws remained generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years—reaching the highest level of debt relative to GDP ever experienced in this country.

Imagining Trump And Clinton Fiscal Policy In An Era of Growing Government Debt

The Congressional Budget Office’s long term budget outlook is a curious document. On one hand, a 30-year fiscal forecast will almost certainly be wrong. But...

CBO:The 2016 Budget Outlook

Congressional Budget Office, The 2016 Budget Outlook (June 29, 2016):

Reduce The Hurdles To Private Investment In Infrastructure

The Congressional Budget Office has a new report looking at the return of federal investment in transportation and research. The bottom line is that the return is not so much

Properly Measured, Labor’s Share of Income Has Changed Little

A recent Congressional Budget Office (CBO) report found household incomes still have not recovered from the recession. What has gone wrong? Some liberal analysts believe they know. They point to data from the Bureau of Labor Statistics (BLS) that track’s the proportion of income going to labor (instead of capital). Show More Summary

Those CBO Interest Rate and Deficit Projections

Back in January, when the Congressional Budget Office (CBO) issued its annual Budget and Economic Outlook, the Washington Post and other deficit hawk types seized on the projections of rising deficits and debt to GDP ratios in the latter part of its 10-year projections. Show More Summary

Busting Political Myths About Federal Taxes

A new Congressional Budget Office report does a nice job of busting some of the most persistent tax myths of both the political left and...

Are the Rich Paying Their Fair Share Yet?

Last week, the Congressional Budget Office released an annual publication, titled “The Distribution of Household Income and Federal Taxes, 2013.” This excellent report details the amount that different households pay in federal taxes,...Show More Summary

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