In Then and Now: A Look Back and Ahead at the Federal Budget (NBER Working Paper 34455), Alan J. Auerbach and William Gale develop fiscal projections that incorporate the recently enacted One Big ...
The federal budget deficit totaled $1.7 trillion in Calendar Year (CY) 2025, according to estimates from the Congressional Budget Office (CBO). The deficit in CY 2025 is $369 billion less than the ...
Mr. Bernstein was the chair of President Joe Biden’s Council of Economic Advisers from 2023 to 2025. Budget hawks have fretted for decades about America’s deficits and debt, repeatedly advising our ...
The national debt now stands at more than $38 trillion. The tariff revenue we rake in is just a drop in the bucket compared to that amount. The Trump administration has proposed using tariff revenue ...
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US debt set to surge to 120% of GDP as federal deficits spiral over next decade under new projections
The U.S. government's budget deficits are now projected to worsen throughout the next decade when compared with earlier forecasts this year, according to a new report by the nonpartisan Committee for ...
Central planning is bad, which means government spending is bad. Contra the most prominent number in economics (GDP), ...
Treasury Secretary Scott Bessent said Tuesday that the Trump administration is weighing plans to apply part of the tariff revenue toward lowering the national debt. "I think at a point we're going to ...
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