The Coronavirus Caused the Deficit to Balloon in April — Usually a Surplus Month
A large decrease in revenues and a large increase in spending have led the Congressional Budget Office to estimate a deficit of $737 billion in April 2020.
Read MoreBudget Basics: The National Flood Insurance Program
The National Flood Insurance Program is run by the federal government to reduce the impact of flooding on private and public structures.
Read MoreThe President’s Budget Proposes Large Spending Cuts, but Leaves Debt at High Levels
President Trump released his fourth budget, which outlines the administration’s policy proposals, budget projections, and economic forecast for the next decade.
Read MoreWhy Are Prescription Drug Prices Rising and How Do They Affect the U.S. Fiscal Outlook?
The rising cost of drugs has significant implications not only for Americans who rely on medications, but also for our nation’s budget and fiscal outlook.
Read MoreWhat Is an Alternative Fiscal Scenario?
CBO prepares what is known as an alternative fiscal scenario, which can be helpful in understanding a range of potential outcomes.
Read MoreThree Key Ingredients for Negotiating a Fiscally Responsible Budget Deal
Brian Riedl, a senior fellow at the Manhattan Institute, details the three key ingredients for negotiating a deficit-reducing budget deal.
Read MoreCBO: Trump Budget Uses Overly Optimistic Economic Assumptions
CBO estimates that the national debt would climb from 78% of GDP in 2018 to 87% of GDP by 2029 under the president’s policies.
Read MoreHealthcare Costs for Americans Projected to Grow at an Alarmingly High Rate
Overall healthcare costs — including all private and public spending — are anticipated to rise by an average of 5.5 percent per year over the next decade.
Read MoreTrustees Report: Funding Challenges Threaten Medicare’s Future
Medicare spending equaled 2.9 percent of GDP in 2018, but is expected to rise to 5.5 percent of GDP by 2043.
Read MoreTrustees Warn: Social Security’s Total Costs Next Year to Exceed Income for First Time Since 1982
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
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