National Debt to Measure Nearly Double the Size of the Economy in 30 Years
The COVID-19 pandemic has led to a considerable increase in spending — but our long-term debt was already on an unsustainable path.
Read MoreNational Debt to Double in Size and Other Key Takeaways from the Latest CBO Report
Debt held by the public equaled the size of the economy in fiscal year 2020, and CBO expects that it will continue to climb.
Read MoreThe National Debt Will Grow to Be Twice the Size of the Economy
The debt growing to double the size of GDP is, in many respects, a symbolic milestone — but it is a clear indicator of the monumentally unsustainable path of our fiscal trajectory.
Read MorePandemic Fuels Record-Breaking Deficits — and Other Key Takeaways from the Latest CBO Report
New CBO baseline projections show that the nation will face daunting fiscal challenges over the next decade.
Read More83 Ways We Can Reduce the Deficit, According to CBO
It’s important for lawmakers to consider the many available policy options for improving that outlook.
Read More13 Charts That Show the Stunning Impact of 2020 on Our Fiscal and Economic Outlook
Our fiscal situation was already unsustainable, but COVID-19 certainly did not help.
Read MoreThis Year We Saw the Largest Budget Deficit Since 1945, Driven Largely by the Pandemic
In fiscal year 2020, the U.S. saw the largest budget deficit since 1945 at $3.1 trillion. Find out what contributed to these record-breaking stats.
Read MoreHow Are Safety Net Programs Helping the Response to the Coronavirus Pandemic?
Despite the increased federal deficit, the expansion of safety net programs has led to generally effective economic stimulus.
Read MoreNew CBO Report: Pandemic Accelerates Existing Fiscal Challenges
Here are five key takeaways from CBO’s latest projections that show the path of federal revenues, spending, and debt through 2050.
Read MoreCBO’s Budget Outlook Shows Pandemic’s Acceleration of U.S. Fiscal Challenges
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
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