The Congressional Budget Office projects $1 trillion in federal budget deficit in 2022 and expects federal debt held by the public to fall to 96 percent of gross domestic product by 2023
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Phillip Swagel, director of the Congressional Budget Office, said CBO projects the federal budget deficit to drop from $2.8 trillion in 2021 to $1 trillion in 2022 as the economy bounces back
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The Government Accountability Office (GAO) has recommended that Congress and the administration implement a long-term fiscal strategy after the COVID-19 pandemic to help the country maintain its position to meet its social
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The Congressional Budget Office has released a report that assesses the effects of the five-week partial government shutdown on the federal budget and economy. CBO estimates that the partial shutdown resulted in the
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Treasury Secretary Steven Mnuchin and Mick Mulvaney, director of the Office of Management and Budget, have issued a joint statement saying the federal budget deficit reached $779B in fiscal 2018, about $113B
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A new Congressional Budget Office report says the federal budget deficit in fiscal year 2017 ended Sept. 30 reached $668 billion, approximately $82 billion higher than the shortfall recorded in the previous fiscal year.
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NATO Secretary General Jens Stoltenberg has said NATO member states plan a 4.3 percent increase in military spending this year amid President Donald Trump’s call for allies to pay more for their
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President Donald Trump has urged NATO member countries to meet commitments to spend 2 percent of their gross domestic product on defense, DoD News reported Thursday. Trump said at the NATO headquarters in
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Defense Secretary James Mattis has said NATO member countries should increase their defense spending and that the U.S. government may have to “moderate its commitment†to the alliance if nations fail to
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A Government Accountability Office report obtained by Deltek predicts the ratio of U.S. public debt to gross domestic product to grow and exceed the historical high of 106 percent in 1946 within
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