The Congressional Budget Office has updated its earlier budget and economic outlook for the next 10 years. There is one big takeaway from their revised outlook. The Biden-Harris administration’s planned spending is on an unsustainable path. The following chart from the CBO’s report shows what that means in terms of expected spending and tax...
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The Congressional Budget Office has finally released its 2020 Long Term Budget Outlook. Delayed for months, the CBO’s budget analysis confirms the coronavirus recession has made the U.S. government’s fiscal situation much worse. How much worse? In its 2019 outlook, the CBO expected the publicly held portion of the debt would hit 144 percent...
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The Trump administration has often trumpeted its effectiveness in reducing the number of regulations that U.S. government agencies impose on regular Americans and businesses. But since the arrival of the coronavirus pandemic, the number of new regulatory restrictions issued by federal agencies and departments has exploded, reversing much of the progress the Trump administration...
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Thanks to the coronavirus recession, the U.S. government is on track to borrow more money in 2020 that it will collect in taxes as it cranks up its deficit spending to unprecedented levels. That’s the best estimate of the Congressional Budget Office, which finally weighed in on the fiscal impact of the emergency spending...
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The Congressional Budget Office has published its Long-Term Budget Outlook for 2019, projecting the U.S. government’s fiscal health will become much worse over the next 30 years in its baseline scenario.

Last December, the Congressional Budget Office generated a list of ideas for how the U.S. government could save trillions of dollars over the next 10 years.

The Congressional Budget Office has issued its Budget and Economic Outlook for 2019 through 2029, where it projects that for the next 10 years, the U.S. government’s spending and tax collections will each grow at an average annual rate of 5 percent a year.

U.S. Government’s long-term budget outlook released.

On February 10, the Congressional Budget Office (CBO) admitted a mistake in its projections of the share of earnings replaced by Social Security for people approaching retirement. Last fall, the CBO said the annual Social Security benefit for those born in the 1960s and retiring at age 65 would replace 60 percent of their...
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The Obama administration has released a report estimating that enrollment in Obamacare will reach only 9.4 million to 11.4 million at the end of 2016. Back in 2010, when the Affordable Care Act was passed, the Congressional Budget Office estimated that exchange coverage would reach 21 million next year (Table 4). Why the come...
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