The deal is expected to save billions for Medicare and reduce out-of-pocket costs for millions of seniors starting in 2026. The Department of Health and Human Services (HHS)…
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Legislators Debate Veterans’ Affairs Budget
Disagreements arise over the Toxic Exposures Fund and other reforms to benefits. Legislators in Congress recently concluded negotiations on the current fiscal year budget, but concerns arose regarding…
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Treasury Department Reports U.S. Debt Surpasses $34 Trillion
Highest-ever debt milestone for the United States. The Treasury Department reported that the federal government reached the highest recorded levels of public debt, closing 2023 with $34.001 trillion…
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CBO Projects Increased Spending on Nuclear Arsenal
Funding for nuclear forces is estimated to top $750 billion in the next ten years. The Congressional Budget Office (CBO) released a report documenting the cost of nuclear…
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CBO Director Calls for Cutting Deficit Spending in Half
Debt could stabilize in 10 years. Congressional Budget Office Director Phillip Swagel said that reducing deficit spending by 50 percent, as measured as a percentage of the country’s…
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CBO Predicts Summer Government Default
The rise of the debt ceiling is still being negotiated. The Congressional Budget Office has projected that the Treasury Department will run out of ways to prevent a…
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CBO Predicts Social Security Exhaustion in 10 Years
Old Age and Survivors Insurance Trust Fund needs to be addressed by Congress. A new report from the Congressional Budget Office shows the Old Age portion of the…
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National Debt Tops $31 Trillion for First Time
Government spending is identified as the cause. The Treasury Department reported America’s gross national debt has eclipsed $31 trillion for the first time, a financial milestone arriving just…
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President Signs Inflation Reduction Act
Bill addresses taxes, healthcare, and climate On Tuesday, President Joe Biden signed the Inflation Reduction Act into law, one he said he had waited 18 months to sign. The…
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CBO Concerned About Increasing Deficit
Presidential executive actions are contributing to the problem. A letter from the Congressional Budget Office (CBO) in response to an inquiry by a congressman from Missouri confirms that…
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