The Congressional Budget Office projects the total federal deficits to drop from 5.8 percent of gross domestic product in 2023 to 5 percent by 2027 and then increase steadily over the next
MoreThe Government Accountability Office has called on Congress to develop a long-term fiscal plan that incorporates fiscal targets and rules and consider alternative approaches that better connect decisions about the debt ceiling
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A Congressional Budget Office infographic shows that the federal budget deficit in fiscal year 2022 reached $1.4 trillion, which is equivalent to 5.5 percent of gross domestic product. CBO said in another
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The Congressional Budget Office has predicted $1.4 trillion in federal budget deficit in 2023 and expects federal debt held by the public to increase from the current 98 percent of gross domestic product
More by Jane Edwards
The Congressional Budget Office adjusted its economic growth outlook for 2023 on account of inflation, higher interest rates and an uptick in unemployment that occurred in the second half of 2022. In
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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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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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Keith Hall, director of the Congressional Budget Office, has said CBO predicts the U.S. budget deficit to grow over the next 10 years if current laws remain unchanged. Hall said in a statement published
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