US ELECTION: Budget Deficits May Force Bush to Make Hard ChoicesAMERICA IS a country living beyond its means. That simple truth places a giant question mark on the radical agenda George Bush has set out for his second term.Cornwell, Rupert...
In addition, the Federal Reserve’s preferred measure of inflation, the PCE deflator, came in at 2.1% year over year in September, almost hitting the Fed’s target. We expect inflation to continue falling into 2025. The potential tariffs and deportations, however, represent the biggest changes...
The U.S. federal budget deficit reached $2.8 trillion for the fiscal year 2021.1It was the second-highest deficit since 1945; the 2020 deficit of $3.1 trillion as a result of the COVID-19 pandemic takes the top spot.23 Learn more about the factors impacting the federal budget deficit, ho...
WASHINGTON (AP) — The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Donald Trump's tax cuts caused the government to borrow more heavily in order to cover its spending.
With an additional $85 billion piled onto the deficit in December, the federal government closed out the first quarter of fiscal 2023 (the fiscal year begins Oct. 1) with a $421.4 trillion budget shortfall. After a big drop in November, government receipts rebounded to $454.9 billion in Dec...
"After declining in recent years due to the pandemic ending, the deficit is now back on the rise," Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said in a statement. "At a time when the economy is growing and unemployment remains near historic lows, this sh...
The CBO projects a federal budget deficit of $1.4 trillion for 2023; in 2033, it forecasts that shortfall at $2.7 trillion. The deficit amounts to 5.3 percent of GDP in 2023, grows to 6.1 percent in 2024 and 2025, and then declines in the two years that follow, the office said. ...
The Accuracy of CBO’s Budget Projections for Fiscal Year 2024 How to Install the Code and Data Follow these three steps to install the code and data associated with theEvaluations of CBO's Past Projections of Outlays, Revenues, Deficits, and Debton your computer: ...
Section 952(c)(1)(A) limits a CFC's subpart F income for a particular tax year to the CFC's E&P for that tax year. Other provisions in Section 952(c) allow a US shareholder to reduce its inclusion under Section 951(a)(1)(A) by the amount of certain CFC E&P deficits. ...
Federal regulators are investigating whether California violated securities laws and failed to provide adequate disclosure about its giant public pension fund, according to a person with knowledge of the investigation. The Securities and Exchange Commission normally polices companies, but last year itbrought...