CBO warns Social Security, Medicare and Highway Trust Funds will be ‘exhausted’ within 10 years
The balances in three federal trust funds – Social Security, Medicare and the Highway Trust Fund – will be “exhausted within the next 10 years” without congressional action, the Congressional Budget Office warned Wednesday.
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CBO: Deficit will hit $3.3 trillion this year, debt will exceed size of economy by 2021
The deficit is projected to hit a record $3.3 trillion this year, and the national debt will exceed the size of the U.S. economy by 2021, according to a Congressional Budget Office report published Wednesday.
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$5,630,859,000,000: Federal Spending Has Already Set Annual Record; Deficit at Record $2,807,295,000,000
The federal government set records for the amount of money it spent and the size of the deficit it ran up in the first ten months of fiscal 2020 (October through July), according to data released today in the Monthly Treasury Statement.
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Federal deficit swells to nearly $3 trillion in first 10 months of fiscal year 2020
The federal deficit so far this fiscal year is at $2.8 trillion, roughly $2 trillion higher than the deficit for the same period last year, according to the Congressional Budget Office.
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U.S. trade deficit shrinks in June
The U.S. trade deficit narrowed in June as exports rebounded following several months of decreases, suggesting an improvement in global demand after being depressed by the COVID-19 pandemic.
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US Budget Deficit Hits All-Time High of $864 Billion in June
The U.S. government, faced with a surge in COVID-19 cases and their economic impact, said it incurred its biggest monthly deficit ever in June, an $864 billion figure that is more than the country usually has recorded annually throughout its history.
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