Tag Archives: federal deficit

The Hill reports: Republicans are preparing to re-embrace their inner deficit hawks after green-lighting big spending bills under President Trump. GOP senators say they expect to refocus on curbing the nation’s debt and reforming entitlement programs starting in 2021, as the Congressional Budget Office estimates that the debt has surpassed the size of the American economy. “I think that’s kind …

The Washington Post reports: The U.S. budget deficit eclipsed $3.1 trillion in the fiscal year that ended Sept. 30, according to government data released Friday, by far the biggest one-year gap in U.S. history. The deficit — which is the gap between government spending and tax revenue — shows the dramatic surge in spending the U.S. government approved in order …

Mediaite reports: During an interview with Fox News’ Sandra Smith, McEnany was asked for her response to the Congressional Budget Office’s (CBO) estimation that the federal budget is looking at a record deficit of $3 trillion. “What is the president’s plan as the economy rebounds to take this on?” Smith asked. “Obviously [spending] was needed with the coronavirus pandemic — …

The Wall Street Journal reports: U.S. debt has reached its highest level compared to the size of the economy since World War II and is projected to exceed it next year, the result of a giant fiscal response to the coronavirus pandemic. The Congressional Budget Office said Wednesday that federal debt held by the public is projected to reach or …

Bloomberg News reports: The U.S. budget deficit may quadruple this year to almost $4 trillion. Projections from the Committee for a Responsible Federal Budget (CRFB) say that by 2023 U.S. debt held by the public will surpass records set in the post-World War II years. And these projections only include spending enacted so far—in a three-month-old crisis that has seen …