#Deficit

It seems likely that when Phil Swagel took over as director of the Congressional Budget Office (CBO) last June he did not think he would need to include assumptions about “social distancing” as part of the cost estimates the agency…

As the nation grapples with devastating healthcare and economic consequences of the spreading COVID-19 pandemic, policymakers in Washington have been ratcheting-up their responses. Bills and proposals have included actions to fight the virus, maintain employment and stimulate the economy. Given…

Today’s update from the CBO provides a sobering reality check on campaign calls for major spending increases or big tax cuts. The alarming budget outlook during a period of sustained economic growth and low unemployment reflects the continuing failure of…

The Concord Coalition said today that a tax and spending package set to be voted on in the House of Representatives is a stunning display of fiscal irresponsibility. The bill, HR 1865, would reduce revenues by more than $400…

The federal budget deficit for Fiscal Year 2019 was $984 billion (4.7 percent of GDP), according to a preliminary estimate issued by the Congressional Budget Office (CBO) on Monday. This would be an increase of $205 billion over the 2018…

In a follow-up to the new Congressional Budget Office (CBO) baseline projections, the CBO released a report last week analyzing the effect that select policy alternatives would have on budget deficits and federal debt. CBO also produced an “alternative scenario”…

Although the tax filing season is over, the Senate Finance Committee seems intent on resurrecting the question of whether to extend certain tax breaks -- known as “extenders” -- that expired well over a year ago. That’s unfortunate. As the…

New projections by the Congressional Budget Office (CBO) show that President Trump’s proposed Fiscal Year 2020 budget would increase the debt from 78.2 percent of the economy (GDP) to 87.4 percent of GDP over the next 10 years. The proposals…