Zooming out and looking over the history of the budget back to 2016 shows a more complete picture. The change since Covid is ...

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 ...

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 ...

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 ...