The budget hole calls for sustainable revenue increases or serious spending cuts, the Legislature’s analysts say. But either would be unpopular with top Democrats.
In Then and Now: A Look Back and Ahead at the Federal Budget (NBER Working Paper 34455), Alan J. Auerbach and William Gale develop fiscal projections that incorporate the recently enacted One Big ...
In a new projection from the nonpartisan Congressional Budget Office, the federal budget deficit - the gap between government revenue vs. spending - will be $1.9 trillion for the 2024 fiscal year. The ...
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Interest payments eclipsed $1 trillion as federal deficit hit $1.8 trillion in fiscal 2025, CBO says
The Congressional Budget Office estimated Wednesday that the federal budget deficit for fiscal 2025 was $1.8 trillion as interest payments crossed $1 trillion for the first time. That $1.8 trillion ...
The California Legislature returns to work Monday for the 2026 session, and a major financial headache awaits. The ...
Discover key arguments for and against a balanced federal budget, exploring potential impacts on national debt, taxpayers, and future economic stability.
The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data ...
The U.S. federal deficit remains historically high, but recent fiscal swings have not significantly disrupted economic growth or inflation trends. Since 2009, the Federal Reserve's shift to a quantity ...
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