Debt could stabilize in 10 years. Congressional Budget Office Director Phillip Swagel said that reducing deficit spending by 50 percent, as measured as a percentage of the country’s…
Read MoreCongressional Budget Office
CBO Predicts Summer Government Default
The rise of the debt ceiling is still being negotiated. The Congressional Budget Office has projected that the Treasury Department will run out of ways to prevent a…
Read More
CBO Predicts Social Security Exhaustion in 10 Years
Old Age and Survivors Insurance Trust Fund needs to be addressed by Congress. A new report from the Congressional Budget Office shows the Old Age portion of the…
Read More
National Debt Tops $31 Trillion for First Time
Government spending is identified as the cause. The Treasury Department reported America’s gross national debt has eclipsed $31 trillion for the first time, a financial milestone arriving just…
Read More
President Signs Inflation Reduction Act
Bill addresses taxes, healthcare, and climate On Tuesday, President Joe Biden signed the Inflation Reduction Act into law, one he said he had waited 18 months to sign. The…
Read More
CBO Concerned About Increasing Deficit
Presidential executive actions are contributing to the problem. A letter from the Congressional Budget Office (CBO) in response to an inquiry by a congressman from Missouri confirms that…
Read More
CBO Report Says Taxes Will Rise Higher
Highest for individuals since 1913. The nonpartisan Congressional Budget Office (CBO) has released its budget and economic outlook for 2022 and it shows that federal taxes are rising…
Read More
Individual Income Taxes Surge
Will go higher as previous administration’s tax cuts expire. Americans are now paying the most in individual income taxes ever. According to a new budget analysis presented to…
Read More
CBO Scores Build Back Better Program
They project $5 billion total price tag. Both the House and Senate are in session this week and looking to finalize the Build Back Better proposal before the…
Read More
House Passes Build Back Better Act
$2 trillion measure faces hurdles in the Senate. On Friday, the House of Representatives passed President Biden’s $1.85 trillion Build Back Better Act, sending the measure to the…
Read More