President Donald Trump’s proposed budget for 2018 would reduce the deficit over the next decade by $160 billion and increase GDP at the same time, according to an analysis from the Congressional Budget Office.
The Treasury is set to run out of cash in October, which may lead to a default on debt obligations or payment delays for government programs, according to a report from the Congressional Budget Office.
Government employees earn roughly 17 percent more in total compensation than private-sector workers in similar jobs, according to a report from the Congressional Budget Office.
Repealing the Affordable Care Act could reduce the deficit by as much as $1.07 trillion, according to a report from the Mercatus Center.
Federal debt held by the public is set to hit 77 percent of gross domestic product by the end of this year, the highest level seen since shortly after World War II, according to the Congressional Budget Office’s 2017 long-term budget outlook.
The Democratic leaders of the House and Senate castigated the House Republicans’ plan to replace Obamacare during a press conference Monday evening, calling on the GOP to pull the health care bill after the Congressional Budget Office’s appraisal of it was complete.
The Congressional Budget Office issued its latest budget and economic outlook: Government spending is projected to outpace federal tax revenues over the next decade, driving up the debt to record-high levels.