Trump Signs Stopgap Spending Bill

President Trump signed legislation early this morning to keep the government funded through Dec. 11, averting any threat of a government shutdown until after the November elections. Funding was set to lapse at midnight and Trump signed the bill about an hour later after returning from a campaign rally in Minnesota. The Office of Management… Read more »

U.S. Deficit Will Triple in 2020 to $3.3 Trillion

For the first time since World War II, the U.S. government’s debt will roughly equal the nation’s gross domestic product by the end of this year, according to the Congressional Budget Office. Contributing greatly to CBO’s projections is the government’s annual budget deficit, which will triple this year from 2019 to $3.3 trillion. The deficit… Read more »

CBO Predicts Deficit Will Top $1 Trillion

The Congressional Budget Office predicted this week that the federal budget deficit will top $1 trillion annually over the next 10 years unless Congress makes “significant changes to tax and spending policies.” The soaring deficit is fueled by increased borrowing by the federal government, though CBO predicted that interest rates for the next decade would… Read more »