The federal government will be unable to fully pay its obligations sometime between July and September if Congress doesn’t address the debt limit before then, the Congressional Budget Office said Wednesday.
The US budget deficit widened to $1.067 trillion for the first 11 months of the fiscal year, an increase of 19% over this time last year, the Treasury Department reported Thursday. The current shortfall exceeds the full-year deficit for fiscal 2018, which was $898 billion. President Donald Trump, who promised during the 2016 campaign to eliminate […]
The national debt is on track to nearly double as a share of the economy over the next 30 years, according to a new report from the nonpartisan Congressional Budget Office. Federal debt is currently equivalent to 78 percent of the country’s annual Gross Domestic Product, with the report estimating it will rise to 100 percent of […]
