McConnell Calls National Debt ‘Very Disturbing,’ Blames ‘Bipartisan Reluctance’ to Tackle Entitlements
Deficit
Trump Announces Civilian Federal Employees Won’t Receive Pay Raise in 2019, Cites Need for Fiscal Responsibility
President Donald Trump announced on Thursday that civilian federal employees will not receive a pay raise in fiscal year 2019 in order to “put our Nation on a fiscally sustainable course.”
Government Collects $2.74 Trillion in Taxes In First 10 Months of FY 2017
The federal government collected $2.74 trillion in taxes in the first 10 months of fiscal year 2017, but the federal government still ran a $566 billion deficit during that time, according to the latest monthly Treasury Department statement.
President Trump’s Budget Would Reduce Deficit By $160 Billion and Increase GDP Growth
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.
CBO: Treasury to Run Out of Cash in Next 3 Months, Leading to Default or Delay of Payments
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.
Cotton: Let’s ‘Take Our Responsibilities Seriously’ for Budgeting Cycle
Government Collects $2.17 Trillion In First 8 Months of Fiscal 2017
The federal government collected approximately $2.17 trillion in taxes in the first eight months of fiscal year 2017, but the federal government still ran a $432 billion deficit during that time, according to the latest monthly Treasury Department statement.
Repeal of Obamacare Could Lead to $1.07 Trillion in Net Deficit Reduction
Repealing the Affordable Care Act could reduce the deficit by as much as $1.07 trillion, according to a report from the Mercatus Center.
FY 2016 Budget Deficit Larger Than Expected
The annual federal budget deficit is larger than expected and is now projected to reach $590 billion, according to estimates from the Congressional Budget Office.
CBO: Deficit, Public Debt to Double Over Next 10 Years
The deficit is estimated to more than double in 10 years, which is projected to push debt held by the public up to 77 percent as a percentage of Gross Domestic Product (GDP), according to Congressional Budget Office (CBO) estimates.
