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Tuesday, January 28, 2020  Spokane, Washington  Est. May 19, 1883
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Stories tagged: congressional budget office

U.S. budget deficit hits $984 billion, highest in 7 years

The federal deficit for the 2019 budget year surged to $984.4 billion, its highest point in seven years, and is widely expected to top the $1 trillion mark in coming …

U.S. budget gap set to top $1 trillion in 2020, 2 years sooner than expected

The U.S. budget deficit is set to widen to $1 trillion by fiscal year 2020, two years sooner than previously estimated, according to the Congressional Budget Office.

May budget deficit hits record $207.8 billion

The federal government’s budget deficit in May rose to a record $207.8 billion, 41.5% higher than a year ago. Most of that increase reflected the impact of calendar quirks that …

UPDATED: Mon., Jan. 28, 2019

Shutdown projected to cause $3B permanent hit to economy

The federal government shutdown will cause slight permanent harm to the economy – about $3 billion – according to a report Monday by the Congressional Budget Office.

UPDATED: Fri., March 2, 2018

New analysis sees return of trillion-dollar budget deficits

Trillion-dollar budget deficits are returning next year, and $2 trillion-plus deficits are not far off in the wake of President Donald Trump’s tax cuts and last month’s big budget deal, …

UPDATED: Mon., Nov. 27, 2017

Senate GOP tax bill hurts the poor more than originally thought, CBO finds

The Senate Republican tax plan would give substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation’s poorest would be worse off, according to …

UPDATED: Tue., Oct. 31, 2017

CBO says $1.2 trillion needed for nuclear weapons overhaul

Congress’ budget analysts are putting a $1.2 trillion price tag on a long-term plan to modernize the U.S. nuclear arsenal that President Donald Trump inherited from his predecessor.

CBO forecasts Alexander-Murray health-care plan would slightly lower deficit

A bipartisan Senate plan to try to stabilize Affordable Care Act marketplaces would lower the federal deficit by nearly $3.8 billion during the next decade and would not affect the …

CBO: Federal budget deficit rises to $668 billion

The federal government ran a $668 billion budget deficit for the just-completed 2017 fiscal year, according to a new government report. That’s $82 billion more red ink than the government …

Congress must stabilize health insurance market

The reality is that the ACA will remain the law for the forseeable future, so the responsible course is for Congress to stabilize the individual insurance market.

UPDATED: Sat., July 15, 2017

Trump may have to use Obama’s secret debt plan

Deep within the Treasury Department sits a once-secret plan written by the Obama administration that could lead to the first-ever default on U.S. debt. Bond traders are worried that Donald …

UPDATED: Thu., July 13, 2017

What to know about the Senate’s latest health care bill

Senate Republicans have released a revised health care bill that keeps some taxes on high-income earners and includes more funding to make insurance more affordable in hopes of winning over …

Health care bills imperil regional economy

Congress should work on improving the ACA, not returning the country to a time when millions more Americans lacked health care coverage.

UPDATED: Wed., May 24, 2017

CBO score on ‘Trumpcare’ should be warning to Senate GOP, Murray says

The Congressional Budget Office report on a House proposal to replace Obamacare should cause Senate Republicans to rethink their plans, Sen. Patty Murray said.

AP FACT CHECK: Both sides loose with facts in health debate

WASHINGTON – The Congressional Budget Office report on a Republican health care bill set off an intense reaction in Washington, and some on both sides of the debate are playing …

AP Explains: CBO’s independent views can rankle lawmakers

A look at what the Congressional Budget Office does

UPDATED: Mon., March 13, 2017

McMorris Rodgers: CBO report ‘not whole story’

The Congressional Budget Office report that suggests 14 million people could lose health insurance under the House GOP plan “doesn’t tell the whole story,” Rep. Cathy McMorris Rodgers said Monday.

UPDATED: Mon., March 13, 2017

Here’s what the Congressional Budget Office says about the Obamacare replacement plan

Fewer people insured. A lower deficit. And lower premiums starting in 2020, as long as you’re young and healthy.

Partisan bashing proves CBO’s worth

Even when CBO’s numbers are wrong, it retains its credibility – because it goes about its business in a fair and transparent way.

Republicans blast CBO ahead of its cost estimate on Obamacare replacement bill

WASHINGTON – The Congressional Budget Office is a nonpartisan and unelected wing of Congress tasked with determining the cost of bills, and the agency operates as a budget referee on …

New study: Trump to inherit $559B deficit, stable economy

Congressional analysts Tuesday projected that President Donald Trump has inherited a stable economy and a government that is on track to run a $559 billion budget deficit for the ongoing …

Deficit increase after years of declines, new estimate indicates

A new government report released Tuesday blames lower-than-expected tax revenues for a spike in this year’s budget deficit to $590 billion. That’s an increase of about one-third over last year’s …

Legislation gets clean bill of fiscal health

WASHINGTON – Congressional budget analysts gave an important political boost Wednesday to a Senate panel’s health care overhaul, projecting that the $829 billion measure would both dramatically shrink the ranks …