Federal budget deficit reached $1 trillion in five months through February 2026 as tax revenue jumped $206 billion due to higher income tax and tariff collections, CBO data shows.

Right now, senators in Washington D.C. are having floor debates over the 'SAVE' Act. But North Dakota senator Kevin Cramer ...

In a new projection from the nonpartisan Congressional Budget Office, the federal budget deficit - the gap between government revenue vs. spending - will be $1.9 trillion for the 2024 fiscal year. The ...

The Congressional Budget Office projects the federal deficit will grow from $1.8 trillion in 2025 to $3.1 trillion by 2036. Federal spending is currently well above its 50-year average, while revenue ...

In its early days, the Elon Musk-led Department of Government Efficiency (DOGE) bragged it could cut up to $2 trillion from ...

The federal government borrowed $1.6 trillion over the past year – March 2025 to February 2026 – based on estimates from the ...

The House failed to pass a measure that would propose amending the Constitution to require the federal government to have a balanced budget, a measure offered by conservatives to address the ...

Debt held by the public will balloon to more than $56 trillion by 2036 as annual deficits continue to mount, according to the latest projections from the Congressional Budget Office. By later this ...

The amendment, led by Rep. Andy Biggs of Arizona, fell short on a 211-207 vote, below the two-thirds threshold required for constitutional amendments. Every Republican who took part in the vote ...

In 2023, when he was campaigning to win back the White House, President Donald Trump said he would reduce the federal budget. "Instead of growing the size and scope of the federal government … we will ...

The federal government may have to refund all the tariff revenue it brought in. A federal court ruling in favor of tariff refunds reduces one of the economic upsides of import taxes—their benefit to ...

If you look closely, you can see some progress on cutting federal spending. At least that’s the conclusion of the respected Kim Strassel, writing recently in the Wall Street Journal before the ...