Through the end of 2026, there may be significant pressure on lawmakers to pass a litany of different priorities to “clear ...

Tim Penny is a former Congressman from Minnesota and a Co-Chair of the Committee for a Responsible Federal Budget.

Press reports have called the midterm elections, resulting in new majority control of the House and Senate in the 120th Congress.

The budget deficit fell by half between Fiscal Year (FY) 2021 and FY 2022, from $2.8 trillion to $1.4 trillion. While the Biden Administration has tried to take credit for this "historic deficit ...

The US Department of the Treasury released its final Monthly Treasury Statement for Fiscal Year (FY) 2022, showing a $1.4 trillion deficit for the year. The actual FY 2022 deficit is $339 billion ...

The House of Representatives will soon consider a budget resolution for Fiscal Year (FY) 2025, which was reported favorably out of the House Budget Committee on February 13. The budget’s ...

*CBO estimates assume about 24% of lost excise tax revenue is recaptured by income and payroll taxes. Figures may not add due to rounding. Sources: CRFB estimates based on CBO projections. Under the ...

Interest on the debt is the fastest growing part of the budget. Net interest payments will exceed both defense and Medicare spending this year, in Fiscal Year (FY) 2024, according to new projections ...

Social Security turns 90 today – but its retirement program is on course to be insolvent by age 97 – according to new estimates from the program’s Chief Actuary. Even if combined with the disability ...

The federal government has borrowed $1.6 trillion over the past 12 months based on the latest estimates from the Congressional Budget Office (CBO). CBO estimates that the January 2026 deficit totaled ...