Federal budget deficit reached $1 trillion in five months through February 2026 as tax revenue jumped $206 billion due to higher income tax and tariff collections, CBO data shows.

Right now, senators in Washington D.C. are having floor debates over the 'SAVE' Act. But North Dakota senator Kevin Cramer ...

The United States borrowed $1.0 trillion in the first five months of Fiscal Year (FY) 2026, including $308 billion in February, according to the latest ...

In its early days, the Elon Musk-led Department of Government Efficiency (DOGE) bragged it could cut up to $2 trillion from ...

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 ...

The House failed to pass a measure that would propose amending the Constitution to require the federal government to have a balanced budget, a measure offered by conservatives to address the ...

The federal government may have to refund all the tariff revenue it brought in. A federal court ruling in favor of tariff refunds reduces one of the economic upsides of import taxes—their benefit to ...

In 2023, when he was campaigning to win back the White House, President Donald Trump said he would reduce the federal budget. "Instead of growing the size and scope of the federal government … we will ...

The Congressional Budget Office projects the federal deficit will grow from $1.8 trillion in 2025 to $3.1 trillion by 2036. Federal spending is currently well above its 50-year average, while revenue ...

The nonpartisan Congressional Budget Office's 10-year outlook projects worsening long-term federal deficits and rising debt, driven largely by increased spending, notably on Social Security, Medicare, ...

Debt held by the public will balloon to more than $56 trillion by 2036 as annual deficits continue to mount, according to the latest projections from the Congressional Budget Office. By later this ...

If you look closely, you can see some progress on cutting federal spending. At least that’s the conclusion of the respected Kim Strassel, writing recently in the Wall Street Journal before the ...