The federal budget deficit totaled $1.7 trillion in Calendar Year (CY) 2025, according to estimates from the Congressional Budget Office (CBO). The deficit in CY 2025 is $369 billion less than the ...

In Then and Now: A Look Back and Ahead at the Federal Budget (NBER Working Paper 34455), Alan J. Auerbach and William Gale develop fiscal projections that incorporate the recently enacted One Big ...

The headline numbers are striking: growth is accelerating, the trade gap is shrinking, and Washington's red ink is on track ...

Central planning is bad, which means government spending is bad. Contra the most prominent number in economics (GDP), ...

Discover how the U.S. federal budget works, its role in government spending, and its historical evolution, including details ...

Roughly a third of the revenue boom resulted from Trump’s unprecedented, near-universal tariffs on imports. Yet more than half of the revenue increase came from rising wages and realized capital gains ...

The national conversation around fiscal policy is heating up as economic experts weigh in on President Donald Trump’s approach to government spending and taxation. Ed Yardeni, President of Yardeni ...

The U.S. federal deficit remains historically high, but recent fiscal swings have not significantly disrupted economic growth or inflation trends. Since 2009, the Federal Reserve's shift to a quantity ...

President Donald Trump's "big beautiful" tax-and-spending bill, which he signed into law on July 4, is forecast to increase federal deficits by at least $3.4 trillion over the next decade, according ...