Deficit

The Congressional Budget Office projected that the federal deficit is expected to reach nearly $2 trillion this year in a newly released update to 10-year budget estimates.

The rising national debt is projected to slow American households' income growth, with higher levels of debt shaving off about one-third of those gains, a new report finds.

With the 2024 presidential election looming, forecasts showing federal budget deficits and the national debt continuing to grow have bond investors on edge as fiscal risks increase.

Warren Buffett said at Berkshire Hathaway's annual meeting he thinks the federal government will look to increase taxes to address widening budget deficits rather than cut spending.

Economists debate the pros and cons of former President Trump's proposed 60% tariff on all Chinese imports, which could raise prices on American business and consumers.

Federal spending on servicing the national debt has eclipsed military spending in fiscal year 2024, according to a new report from the Congressional Budget Office.

Citadel founder and CEO Ken Griffin said the rapid growth of the U.S. national debt is a "growing concern that cannot be overlooked" in his annual letter to investors.

The CBO released a report showing that the national debt will rise to unprecedented levels over the next three decades despite recent deficit reduction efforts.

The national debt is projected to eclipse a record set in 1946 in four years after surpassing the size of the U.S. economy according to the CBO's latest projection.

The Congressional Budget Office released its budget and economic outlook for the next 10 years and projects deficits rising from $1.6 trillion this year to over $2.6 trillion in 2034.

The federal budget deficit widened by $89 billion in the first three months of FY24 compared to the same period last year, with rising interest costs outpacing higher tax revenue.

Federal budget deficits and high interest rates are causing the cost of servicing America's $33 trillion national debt to soar, raising concern about the debt's sustainability.

Lawmakers considered proposals in the House Budget Committee last week that would establish a bipartisan fiscal commission to suggest policies that would rein in the deficit and debt.

The U.S. federal budget deficit is expected to nearly double this year, growing to $2 trillion as a result of higher interest rates and lower tax revenue.

Fitch’s downgrade doesn’t mean were about to default. It does mean we look like a country that can’t be depended on. Will we lose our status as a reserve currency?

A report from spending watchdog Open the Books shows that the government wasted an average of $683 million per day last year.

President Biden vowed to make both billionaires and corporation "pay their fair share" while speaking at a conference for members of a firefighters union on Monday.

The CBO's latest budget update showed the federal deficit was up $200 billion year-over-year as of January, despite President Biden's claims about his deficit reduction efforts.

President Biden tried to take credit for what he claims is an improving economy durin ghis State of the Union speech Tuesday night. Americans aren't falling for it.

The non-partisan Congressional Budget Office found that Social Security's main trust funds could be exhausted by 2033, which could result in reduced payments to beneficiaries.