(The Center Square) – The federal government is projected to post a $2 trillion deficit in fiscal year 2026, double the 3% of GDP target that has bipartisan support in Congress, according to Treasury's quarterly refunding documents.
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(The Center Square) – No tax proposal before Congress would be sufficient on its own to put the federal debt on a sustainable long-term path, according to a new report from the Tax Foundation that finds spending on programs such as Social Security and Medicare is projected to outpace revenues for decades.
(The Center Square) – The U.S. national debt is now larger than the entire American economy and is only set to keep growing, further exacerbating the affordability crisis and risking national security.
(The Center Square) – The United Arab Emirates announced Tuesday it is leaving OPEC and the broader OPEC+ alliance on May 1, a historic break from the oil producers' cartel that could eventually increase global supply and ease prices at the pump for American consumers, although relief is unlikely to arrive soon.
(The Center Square) – The Pentagon's top budget official said Tuesday that the agency's failure to pass eight consecutive audits shouldn't stop Congress from approving the largest military budget in American history, a $1.5 trillion request that represents a 42% increase over current spending.
Presidential budget requests are rarely to be taken seriously. Congress typically ignores them and grinds out changes in spending and taxes ac…
The US budget deficit remained virtually stable during the first three months of 2026, as increased revenue -- primarily from income taxes and customs duties -- offset an acceleration in spending.
(The Center Square) – The U.S. government added $1.2 trillion to the national debt over the past six months, borrowing $163 billion during March alone, the Congressional Budget Office reports.
(The Center Square) – As congressional Republicans begin considering how to implement President Donald Trump’s budget request into next year’s government funding bills, fiscal responsibility groups are urging them to find more spending offsets.
(The Center Square) – Some Republicans have recently introduced bipartisan legislation in the House and Senate aimed at addressing the federal deficit and ultimately reducing the federal debt, though opinions vary on whether Congress will make meaningful progress on the issue anytime soon.