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.
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…
Rising federal debt threatens to choke economic growth within a decade, beginning a death spiral that will sap revenue from government programs even as demands grow, forcing the government to borrow even more, Congress’ budget watchdog said in a frightening report Tuesday.
