The Latest Breaking News from Congressional Budget Office

Senate Republican budget writers waged a multifront offensive on President Joe Biden’s fiscal 2024 budget request, while Democrats pointed to a Congressional Budget Office analysis to say House GOP budget plans are unrealistic. CQ Roll Call’s David Lerman, Peter Cohn and Paul M. Krawzak assess how Biden’s blueprint was received…

WASHINGTON — Congressional Budget Office Director Phillip L. Swagel will brief House members Wednesday on the agency’s budget and economic outlook as lawmakers consider whether to adjust spending levels in conjunction with lifting the debt limit.

Congressional Budget Office Director Phillip L. Swagel will brief House members Wednesday on the agency’s budget and economic outlook.

WASHINGTON — It’s a time-worn argument for raising the debt limit: Without increased borrowing authority, Social Security checks would stop flowing.

It’s a time-worn argument for raising the debt limit: Without increased borrowing authority, Social Security checks would stop flowing.

As disconcerting as the U.S.’s current debt situation is, the outlook is even worse. When the bipartisan Congressional Budget Office updated its forecasts this month, it estimated that debt held by the public will climb to $46 trillion by 2033 from $31 trillion currently. This puts the country one step…

WASHINGTON — A U.S. Department of Agriculture official testified Thursday that some of the agency’s food programs are being overburdened in the push to feed needy families.

WASHINGTON — The federal government will run out of cash to pay all its bills sometime between July and September unless the statutory debt limit is lifted, the Congressional Budget Office warned Wednesday.

It's the latest estimate of when the country's extraordinary measures to borrow additional funds will be fully exhausted.

If Congress fails to raise the nation's $31.4 trillion debt ceiling, the U.S. government could run out of cash between July and September, or even sooner, the Congressional Budget Office said.

Kevin McCarthy reportedly promised many things to Republican hardliners en route to clinching his job as speaker of the U.S. House of Representatives. One of them was a “balanced budget” in 10 years.