Congressional Budget Office

May 31May 31
Debt ceiling deal won’t have much impact on the US economy, analysts say
- National
- News
President Joe Biden and House Republicans have finally agreed on a deal to raise the government’s debt ceiling, including changes to the federal budget in a number of areas. Analysts say the agreement could have only marginal effects on the US economy.

Pristine Villarreal
May 26May 26
Congress must address debt ceiling by June 5, Yellen warns
- National
- News
If Congress does not address the debt ceiling by June 5, the US Treasury Department will not have enough funds to pay all of the nation’s obligations in full and on time, Treasury Secretary Janet Yellen said Friday.

Pristine Villarreal
February 15February 15
Congress needs to act soon to avoid catastrophic US debt default, CBO report warns
- National
- News
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.

Pristine Villarreal
February 09February 09
Fact check: Sen. Rick Scott keeps repeating a debunked claim about Biden and Medicare
- National
- News
Just before President Joe Biden’s visit to Florida on Thursday, one of the state’s Republican senators, Rick Scott, repeated a false claim about Biden and Medicare — a claim that was debunked by multiple news outlets when Scott and a Scott-chaired Republican organization uttered it during the 2022 midterm campaign.

Pristine Villarreal
April 25April 25
Federal Budget Deficit Could Hit $3.7 Trillion This Year
- National
The economic fallout of the coronavirus pandemic could nearly quadruple the federal budget deficit this year, pushing it to a whopping $3.7 trillion, according to a projection released Friday by the Congressional Budget Office. Last year, with the economy still growing, the deficit surpassed $1 trillion for the first time since 2012 due in large part to Republican tax […]

Taylor Martinez
September 12September 12
The US deficit topped $1 trillion. The year’s not even over yet
- National
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 […]
February 13February 13
National Debt Hits New Milestone, Topping $22 Trillion
- National
The national debt has passed a new milestone, topping $22 trillion for the first time. The Treasury Department’s daily statement showed Tuesday that total outstanding public debt stands at $22.01 trillion. It stood at $19.95 trillion when President Donald Trump took office on Jan. 20, 2017. The debt figure has been accelerating since the passage […]
January 28January 28
Government shutdown cost economy $11 billion, budget office says
- National
Federal employees went back to work Monday after the longest shutdown in government history — but the economic effects will be felt for a long time. A report released Monday by the nonpartisan Congressional Budget Office found that the economy took an $11 billion hit, including $3 billion that’s gone forever, in the 35 days that parts of […]

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