Latest United States Congressional Budget Office News

US budget deficit hits $2.77 trillion in 2021, 2nd highest

Oct. 22, 2021 15:41 PM EDT

WASHINGTON (AP) — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. The deficits in both years reflect trillions of dollars in government spending to counteract the devastating...

Biden bill would put US back on path of reducing uninsured

Oct. 21, 2021 17:42 PM EDT

WASHINGTON (AP) — The Democrats’ social spending and climate change bill would put the United States back on a path to reducing its persistent pool of uninsured people, with estimates ranging from 4 million to 7 million Americans gaining health coverage. Those getting...

What's the price of Biden’s plan? Democrats drive for zero

Sep. 26, 2021 07:29 AM EDT

WASHINGTON (AP) — What will it cost to enact President Joe Biden’s massive expansion of social programs? Congress has authorized spending up to $3.5 trillion over a decade, but Biden is prodding Democrats to fully cover the cost of the legislation — by raising...

More red ink: US budget deficit through July hit $2.54T

Aug. 11, 2021 15:55 PM EDT

WASHINGTON (AP) — The U.S. budget deficit hit $2.54 trillion for the first 10 months of this budget year, fed by spending to support the country after the pandemic-induced recession. The figures keep the deficit on track to be second largest annual shortfall in U.S....

Senators struggle to amend, finish $1T infrastructure bill

Aug. 06, 2021 00:20 AM EDT

WASHINGTON (AP) — Nearing decision time, senators struggled late Thursday to wrap up work on the bipartisan infrastructure plan despite hopes to expedite consideration and voting on the nearly $1 trillion proposal. The package had appeared on track for eventual Senate...

$15 wage becoming a norm as employers struggle to fill jobs

Jul. 27, 2021 13:52 PM EDT

WASHINGTON (AP) — The signs and banners are dotted along suburban commercial strips and hanging in shop windows and restaurants, evidence of a new desperation among America's service-industry employers: “Now Hiring, $15 an hour.” It is hardly the official federal...