The analysis below has been updated based on our understanding of the final changes to the Senate-passed bill; our estimates ...

The national debt already exceeds $36 trillion and is growing at historic rates. That has cascading consequences for the government and economy.

Fifteen years ago, when the Barack Obama–Joe Biden ticket first got elected, America’s three highest federal deficits on record, in inflation-adjusted dollars, were all from World War II. Since then, ...

The deficit as a share of GDP peaked around 4.4% after the 1991 recession before falling to 3.7% by the end of 1993. The 10-year Treasury yield fell nearly 2.5 percentage points to around 6.4% at ...

The United States owes more than $36 trillion. Washington now spends close to $2 trillion more each year than it collects in revenue, forcing the Treasury Department to borrow to make up the ...

These charts show you how big the federal budget is You might be surprised by how much the federal deficit has increased in recent years. ... The totals are based on fiscal year 2023.

For the federal budget in the year 2020, the chart showed a deficit of $3.13 trillion. In 2021, the figure was $2.77 trillion. In 2022, the number was much smaller, at $1.38 trillion.

These charts should alarm Congress and Biden. ... In 2023 — with the economy humming along — the federal deficit is spiking to $2 trillion, ... That’s double last year’s deficit.

The federal budget deficit exceeded an estimated $1.8 trillion in fiscal year 2024, the CBO reported. Budget watchdogs are warning that the U.S. needs to act to rein in budget deficits.

Chart showing that to balance the budget in 10 years without raising taxes, ... (Added together, these cuts would total $67 million, or around 0.005 percent of the federal deficit this year.) ...