congressional budget office

CBO projects federal deficit will hit $3 trillion this year

By Martin Crutsinger, Associated Press

In an updated forecast Thursday, the CBO said the deficit for the current 2021 budget year, which ends Sept. 30, will be the second-largest in history, coming in shy of last year's record shortfall of $3.13 trillion.

CBO expects U.S. federal debt to double over next 30 years

By Josh Boak, Associated Press

The long-term drivers of managing the debt are rising interest rates and spending on programs such as Social Security and Medicare.

CBO finds $15 minimum wage would reduce poverty, increase federal debt

By Kevin Freking, Alan Fram, Josh Boak, Associated Press

A new report from the Congressional Budget Office finds that increasing the minimum wage to $15 an hour would reduce the number of Americans living in poverty and boost wages for millions of people.

U.S. budget deficit surges to $134.5 billion in October

By Martin Crutsinger, Associated Press

The federal government, which ended the 2019 budget year with its largest deficit in seven years, began the new budget year with a deficit in October that was 33.8% bigger than a year ago as spending hit a record.

Hiking minimum wage to $15 would boost millions, government report says

By Associated Press

The nonpartisan Congressional Budget Office also said Monday some 1.3 million workers could lose their jobs with the higher wage.

Column: A financial reality check on the push for health care reform

By Philip Moeller

Congressional Budget Office reports on single-payer health care, drug pricing and broader federal subsidies provide key insights into how much health care reform proposals will cost.

Shutdown projected to cost U.S. economy $3 billion, government report says

By Andrew Taylor, Associated Press

The report says the five-week shutdown has slowed growth in the near term, but that most of the lost growth "will eventually be recovered."…

Tax cuts, spending to raise deficit to $1 trillion by 2019, according to new analysis

By Andrew Taylor, Associated Press

The Trump administration had promised the cuts would pay for themselves.

CBO says Children’s Health Insurance Program would cost $800 million for five years

By Alan Fram, Associated Press

Financing for the program expired last fall. Congress has temporarily extended its funding, but growing numbers of states have moved closer to exhausting their money.

Modernizing America’s nuclear arsenal would cost $1.2 trillion, CBO says

By Richard Lardner, Associated Press

The costs will accumulate over the next 30 years as existing weapons now considered outdated are replaced, according to the budget office, which projected the expenses will crowd out conventional weapons programs unless the Pentagon's budget is increased substantially.