The nonpartisan Congressional Budget Office released its latest 10-year budget outlook, which projected the U.S. is on track to break a notable debt record in just four years.

Many budget hawks have tried and failed to streamline the government and reduce gigantic annual deficits. Musk's efficiency commission will only succeed if forces a reluctant Congress to finally act.

Projections show steady budget deficits exceeding 5% of GDP, even assuming that the bulk of the 2017 tax cuts expire.

Gov. Gavin Newsom has only expanded the size and scope of California government during his tenure, while Trump plans radical ...

The new budget forecasts predicted that the United States will record a $1.9 trillion budget deficit this fiscal year and ...

The Congressional Budget Office on Friday forecast a $1.865 trillion U.S. budget deficit for fiscal 2025, largely flat with ...

As congressional Republicans struggle to keep deficits in check while extending their sweeping 2017 tax cuts, the ...

The United States is set to see its debt level swell to a record over the coming decade, the Congressional Budget Office said Friday, days before President-elect Donald Trump takes office.

As President-elect Donald Trump prepares to take office, the U.S. government’s fiscal health is bleak, with debt and deficits ...

The jobless rate soared to 14.8% at the height of the pandemic, but by the time Biden took office, it had dropped to 6.4%. It then fell steadily to 3.4% by 2023 as the U.S. recovered fully from the ...

The U.S. national debt is projected to surge by $23.9 trillion over the next decade, according to the Congressional Budget Office.