You Searched For "CBO" and got 20 results
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2 mins read
The US economy will grow by an extra $7 trillion over the next decade due to immigration, the CBO says
"More workers mean more output and that in turn leads to additional tax revenue," CBO director Phil…
Matthew Fox
1 min read
The US debt will surge to $56 trillion in the next 10 years as government spending outpaces revenues
The federal debt is on track to soar 64% over the next decade, notching $56 trillion, according to …
Jennifer Sor
2 mins read
Runaway government debt could sink markets and slam the economy, 2 watchdogs warn
Ballooning government debt and soaring interest payments could trigger a UK-style market meltdown a…
Theron Mohamed
1 min read
Immigrants are driving a surprisingly strong US economy, and it hasn't come at the expense of American workers, Nobel laureate Paul Krugman says
"Are immigrants taking jobs away from native-born Americans? No," Krugman wrote.
Aruni Soni
2 mins read
The sharp rise in US immigration explains why the labor market is so loose and the housing market is so tight, JPMorgan says
Immigration has added close to 3.3 million people to the US in 2023 and 2024. JPMorgan explains the…
Filip De Mott
1 min read
Surging immigration will boost the US labor force and send GDP higher, Goldman says
"Elevated immigration has boosted labor force growth and, by extension, potential GDP growth," Gold…
Matthew Fox
2 mins read
The US could run out of money to pay its bills as soon as July if the debt ceiling isn't raised by then, the CBO projects
As Republicans continue to negotiate terms to raise the debt ceiling, the CBO released a report tha…
Ayelet Sheffey
2 mins read
The worst of inflation is over, Congressional Budget Office says
The latest forecasts from the nonpartisan agency see inflation cooling through the rest of the year…
Ben Winck
4 mins read
Congress treats the Congressional Budget Office like a crystal ball for legislation, but one economist says their models are built on flawed assumptions
Economist Mark Paul says the office's cost-benefit analysis of Biden's Build Back Better plan false…
Paul Constant
3 mins read
Joe Manchin worries Biden's social spending agenda costs too much, so why did he just vote for an infrastructure law that costs more?
Manchin says he's worried about the deficit, but just voted for something more expensive than Build…
Ben Winck
1 min read
Every job lost in the pandemic will come back by the middle of next year, the government's official scorekeeper says
The CBO attributed part of the strong economic rebound to Biden's stimulus. It also said the budget…
Joseph Zeballos-Roig
2 mins read
The national debt will nearly double by 2051 if taxing and spending stay the same, CBO says
The CBO's report doesn't account for Democrats' $1.9 trillion stimulus, and could give Republicans …
Ben Winck
4 mins read
CBO letter signals that Bernie Sanders' minimum wage bill may be able to pass via reconciliation
The CBO finds Bernie Sanders' minimum wage bill impacts more budget functions than previous reconci…
Juliana Kaplan
5 mins read
The Congressional Budget Office says raising the minimum wage to $15 will kill jobs. That's not the whole truth - here's why.
Policy expert Annie Fadely says a $15 minimum wage is key to combatting poverty as well as the rece…
Annie Fadely
2 mins read
US government debt will surpass the economy's size in 2021 even without Biden's new stimulus, CBO says
The nonpartisan agency sees the debt pile shrinking for a few years after 2021 before rising furthe…
Ben Winck
2 mins read
House Democrats unveil draft of stimulus measures, which include a minimum wage increase and $130 billion for reopening K-12 schools
A minimum wage increase, funding for reopening schools, and extended food benefits are included in …
Ayelet Sheffey
3 mins read
Raising the federal minimum wage to $15 an hour would lift 900,000 people out of poverty while adding $54 billion to the deficit, CBO report finds
Raising the minimum wage to $15 an hour would reduce poverty, while also reducing employment and in…
Ayelet Sheffey
4 mins read
One of the government's biggest initiatives to make it easier to take out student loans for grad school backfired and made tuition more expensive
With a looming Supreme Court ruling on student loan forgiveness, new research reveals introducing u…
Noah Sheidlower
4 mins read
Biden and McCarthy's plan to change SNAP work requirements in the debt-ceiling deal could actually expand benefits but not employment
Republican lawmakers have said that stronger work requirements on SNAP would get recipients back to…
Ayelet Sheffey,Madison Hoff
2 mins read
The government's main budget experts confirmed that the US could risk economic catastrophe as soon as early June
In a matter of weeks, the US might be plunged into entirely preventable and unprecedented economic …