The federal government borrowed $1.9 trillion over the past year – July 2024 to June 2025 – based on estimates from the ...

The federal budget deficit is back in the spotlight after the Republican-controlled Congress approved a massive tax and ...

Congressional Budget Office (CBO) Director Phillip Swagel discussed the current budget and economic outlook. He reported the U.S. could default on its debt between July and September unless the ...

The nonpartisan Congressional Budget Office is required by law to provide economic analyses on major legislation.

Phillip Swagel, director of the Congressional Budget Office, warns that the U.S. faces a similar risk faced by the U.K. in 2022 if the government continues to ignore mounting debt concerns ...

How the CBO gets to these figures is at the center of a long-running debate in Washington, because these estimates often ...

In an economy anything like the one we have had for the past several decades, this would ensure that Americans’ tax bills ...

The nonpartisan Congressional Budget Office released a report analyzing 76 policy options for reducing the federal budget deficit, including spending cuts, entitlement and tax reforms.

Wendy Edelberg, a former chief economist at the Congressional Budget Office, is a senior fellow in economic studies at the Brookings Institution. Should Congress enact the budget reconciliation ...