A fiscal crisis – sometimes called a sovereign debt crisis – is a sharp economic shock or downturn caused or sparked by high levels of current or expected public borrowing. A fiscal crisis can take ...

Use CRFB’s Adjusted August 2025 Baseline, which accounts for the projected impact of the One Big Beautiful Bill Act (OBBBA), new tariffs, and other legislative changes implemented since the ...

Today, the White House announced an indefinite pause of the collection of defaulted federal student loan debt, including through the Treasury Offset Program, which applies any tax refunds towar ...

The Trump Great Healthcare Plan calls for funding Cost-Sharing Reductions (CSRs) under the ACA. Funding CSRs would reinstate payments to health insurance companies to cover their cost, ending “ silver ...

Over the four years of President Biden’s term – from January 2021 through January 2025 – we estimate that he approved $4.7 trillion in new ten-year debt through legislation and executive actions. The ...

In a recent Wall Street Journal article, Richard Rubin highlighted an important fact: the Social Security retirement trust ...

In a post on Truth Social, President Trump called for increasing the Fiscal Year (FY) 2027 defense budget to $1.5 trillion, rather than $1 trillion he said he previously wanted to propose. We ...

Momentum has been growing in support of a 3% of GDP deficit target, including bipartisan support from policy experts and ...

The United States borrowed $602 billion in the first three months of Fiscal Year (FY) 2026, including $145 billion in the month of December, according to the latest Monthly Treasury Statement f ...

The national debt is on course to reach a record share of the economy under the next presidential administration, due in part to policies approved by Presidents Trump and Biden during their time in ...

The Committee’s Board comprises some of the nation's leading budget experts, including many past heads of the House and Senate Budget Committees, the Congressional Budget Office, the Office of ...