FISCAL BLOG

CBO projects that the deficit for 2019 will be $960 billion. That’s $63 billion (or 7 percent) above its estimate from just three months ago.

While there has been positive news about recent wage growth, looking back over the last 40 years reveals a different story for the average worker.

While growth in 2019 has exceeded expectations so far, many economists expect growth to remain lower in 2019 than in 2018.

Americans and the economy are vulnerable to a series of high-stakes fiscal deadlines, with an uncertain path forward.

This year’s report demonstrates why lawmakers should focus their attention toward improving our nation’s debt path as soon as possible.

The deficit could reach $1 trillion this year, according to the Office of Management and Budget (OMB), which released its annual mid-session review on Friday.

The nonpartisan Congressional Budget Office (CBO) released its 2019 Long-Term Budget Outlook, highlighting the significant fiscal challenges facing our nation.

CBO estimates that the national debt would climb from 78% of gross domestic product (GDP) in 2018 to 87% of GDP by 2029 under the president's policies.

The amount spent by the federal government on interest is large and growing. Net interest will become the third largest "program" in the budget by 2025.

Under current law, the U.S. budget deficit will exceed $1 trillion each year beginning in 2022 and total $11.4 trillion over the upcoming decade.