As of July 3, 2025, the U.S. national debt stands at $36.2 trillion. Much like bank loans, the national debt has interest ...

If there is one thing presidents of both parties can agree on, it’s that the Congressional Budget Office causes them ...

The nonpartisan Congressional Budget Office is required by law to provide economic analyses on major legislation.

The United States Treasury confirmed Wednesday that the federal budget deficit for May hit $316 billion, placing it among the top three largest monthly gaps ...

Jim Chalmers’ fourth budget reveals consecutive deficits of $27.6bn in 2024-25, deteriorating to $42.1bn in 2025-26. Given the budget was in surplus in 2023-24, Labor has presided over the ...

There’s plenty of evidence to support that claim: Australia’s economy is recovering after two years in the slow lane, Donald Trump’s tariff policies have cast a shadow over global growth and ...

Federal spending in the first five months of fiscal year 2025 was 13% higher than the prior year, while tax receipts were 2% higher. Spending increased by $356 billion in that period when compared ...

WASHINGTON (Reuters) -The U.S. budget deficit for the first five months of fiscal 2025 hit a record $1.147 trillion, the Treasury Department said on Wednesday, including a $307 billion February ...

On a budget Elon Musk and the Department of Government Efficiency are picking apart federal spending, trying to find areas of waste. Here’s a look at where all the money goes. The charts below ...

Also, if Elon Musk’s claim that he can cut the budget deficit by $2 trillion is even half true (i.e., if DOGE can cut the budget deficit by $1 trillion), that cut would represent around 3% of GDP.

Year-to-date receipts came in at $1.596 trillion, up 1% or $11 billion from the same period a year earlier, while outlays totaled $2.436 trillion, up 15% or $319 billion from the prior year period.

The U.S. federal budget deficit surged during the first quarter of fiscal 2025, climbing nearly 40% higher than last year. The Treasury Department reported a shortfall of over $80 billion for ...