Debt and Interest Payments

CBO, The Budget and Economic Outlook: 2024 to 2034 Debt held by the public rises each year in relation to the size of the economy, reaching 116 percent of GDP in 2034—an amount greater than at any point in the nation’s history. From 2024 to 2034, increases in...

Automatic Continuing Resolution

Ernest Istook at Newsmax: With a new U.S. House Speaker in place, Republicans now have a quick opportunity to re-unify, rallying around how they handle the level of massive federal spending and borrowing. They should revive the “automatic continuing...

Shutdowns, 1995 and 2023

Sarah Ferris and Burgess Everett at Politico: Members old enough to remember the 1990s are now looking to that era’s nasty stalemate between Bill Clinton and Newt Gingrich as the most apt comparison to their current predicament. Even former Speaker Gingrich...

Deficits and the Federal Debt

 From CBO: Each year, the Congressional Budget Office publishes a report presenting its projections of what the federal budget and the economy would look like over the next 30 years if current laws generally remained unchanged. The long-term budget projections...

Modestly Good News on the Deficit

From CBO: The federal budget deficit was $360 billion in the first seven months of fiscal year 2022 (that is, from October 2021 through April 2022), the Congressional Budget Office estimates. That amount is about one-fifth of the $1.9 trillion shortfall recorded...