Federal deficit to pass $3 trillion for second year, economic growth higher than expected
After a year of immense spending during the COVID-19 pandemic and ensuing economic downturn, the federal deficit is projected to hit $3 trillion for the second year in a row, according to the Congressional Budget Office.
Report: Congressional Budget Office Contradicts White House on IRS Expansion Bill
A Congressional Budget Office report found that the Internal Revenue Service will collect billions of dollars from auditing low- and middle-income Americans under the White House-backed “Inflation Reduction Act,” contradicting Biden administration clai…
As debt climbs to $31T, Dems eye new version of Biden spending bill with Manchin’s support
The Democrat-led Congress might still be able to garner enough votes to pass President Biden’s massive spending package, despite already raising federal spending by more than 6% and presiding over record deficit and debt levels.
Bill that Biden says pays for itself actually adds $3 trillion to deficit, CBO warns
President Joe Biden’s sweeping spending bill, the Build Back Better Act, would add $3 trillion to deficits over 10 years if made permanent, according to a new Congressional Budget Office cost analysis.
CBO says Democrat social spending bill to grow deficit by $367 billion, undercutting Biden claim
The Congressional Budget Office estimated on Thursday that President Biden’s Build Back Better Act will increase the nation’s deficit by $367 billion.
CBO projects US deficit will soar to $3 trillion this year
The Congressional Budget Office is projecting that the United States’s deficit will balloon to $3 trillion in 2021.
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