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 ...

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 ...

Under the CRFB August Adjusted Baseline, debt will reach 120% of Gross Domestic Product (GDP) and deficits will rise to $2.6 ...

Discover how the U.S. federal budget works, its role in government spending, and its historical evolution, including details ...

The U.S. federal deficit remains historically high, but recent fiscal swings have not significantly disrupted economic growth or inflation trends. Since 2009, the Federal Reserve's shift to a quantity ...

President Donald Trump returned to the White House with a promise to slash spending by trillions of dollars and balance the federal budget. But, as the first fiscal year of his second term came to a ...

The federal budget gap narrowed more sharply than forecasters anticipated in November, offering a rare piece of good news in a fiscal landscape still dominated by red ink. The monthly shortfall came ...

Defence, infrastructure and housing may be key pillars of the budget. TD Economics would like to see tax and regulatory reform. Deficit may hit $70 billion potentially, depending on size and timing of ...