Congressional Budget Office

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In this May 22, 2020, file photo the dome of the U.S. Capitol Building is visible through heavy fog in Washington. With COVID-19 cases hitting alarming new highs and a grim rising death toll, the pandemic's devastating cycle is happening all over again, leaving Congress little choice but to engineer another costly rescue. (AP Photo/Andrew Harnik, File)

Congress must stop spending and reduce the debt now

By Cal Thomas

In this April 29, 2020 file photo, a sign displaying the size of the national debt is displayed along an empty K Street in Washington. The Congressional Budget Office has warned that the government this year will run the largest budget deficit, as a share of the economy, since 1945, the year World War II ended. Next year, the federal debt — made up of the year-after-year gush of annual deficits — is forecast to exceed the size of the entire American economy for the first time since 1946. (AP Photo/Andrew Harnik, File)

AP Explains: US debt will soon exceed size of entire economy

By PAUL WISEMAN - Associated Press

In this Dec. 9, 2019, photo, mist rolls over the U.S. Capitol dome on Capitol Hill in Washington. (AP Photo/Patrick Semansky) **FILE**

CBO sees record-shattering spending, debt

By Stephen Dinan - The Washington Times

FILE - In this Aug. 3, 2020, file photo dark clouds and heavy rain sweep over the U.S. Capitol in Washington. The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said Wednesday, Sept. 2. (AP Photo/J. Scott Applewhite, File)

Budget deficit to hit record $3.3T due to virus, recession

By ANDREW TAYLOR - Associated Press

U.S. President Donald Trump and Russian President Vladimir Putin meet at the 2019 G-20 summit in this June 28, 2019 file photo. (AP Photo/Susan Walsh, File) **FILE**

End of last nuclear pact with Russia could cost U.S. over $400 billion: CBO study

By Lauren Toms - The Washington Times

Editorial Roundup: Idaho

By The Associated Press - Associated Press

President Donald Trump, accompanied by Treasury Secretary Steven Mnuchin, left, speaks with reporters as he walks to Marine One on the South Lawn of the White House, Wednesday, July 29, 2020, in Washington. (AP Photo/Alex Brandon) ** FILE **

Federal budget deficit slows as IRS sees record tax receipts

By Stephen Dinan - The Washington Times

This March 22, 2013, photo, shows the exterior of the Internal Revenue Service building in Washington. (AP Photo/Susan Walsh) **FILE**

Tax audits plummet amid IRS budget cuts

By Stephen Dinan - The Washington Times

In this file photo, a woman wearing a mask passes the New York Stock Exchange, Tuesday, June 30, 2020, during the coronavirus pandemic. The Congressional Budget Office on July 2, 2020, said it expects a V-shaped economic recovery as the United States rebounds from the coronavirus-related recession. (AP Photo/Mark Lennihan)

CBO predicts V-shaped recovery, GDP growth to top 12% for rest of 2020

By Stephen Dinan - The Washington Times

In this Wednesday, June 3, 2020 photo, cashier Rosario Vargas, center, bags groceries for customers at the Presidente Supermarket in the Little Havana neighborhood of Miami. The U.S. government is set to issue its latest report on the layoffs that have left millions unemployed but have steadily slowed as many businesses have begun to reopen and to rehire some laid-off workers. (AP Photo/Wilfredo Lee)

Unemployment more lucrative than work for most would-be recipients in extension: CBO

By David Sherfinski and Stephen Dinan - The Washington Times

Senate Minority Leader Sen. Chuck Schumer of N.Y., center, arrives for a news conference on Capitol Hill in Washington, Tuesday, May 12, 2020. (AP Photo/Patrick Semansky)

CBO projects virus impact could trim GDP by $15.7 trillion

By MARTIN CRUTSINGER - Associated Press

The U.S. Capitol dome is seen, Monday, July 9, 2018, in Washington. (AP Photo/Carolyn Kaster) ** FILE **

CBO more optimistic about economic recovery after coronavirus crisis

By Stephen Dinan - The Washington Times

President Donald Trump speaks during a meeting with Republican lawmakers, in the State Dining Room of the White House, Friday, May 8, 2020, in Washington. Treasury Secretary Steven Mnuchin†listens at left. (AP Photo/Evan Vucci)

Feds spent $1 trillion in just one month, shattering previous record: CBO

By Stephen Dinan - The Washington Times

President Donald Trump and Vice President Mike Pence arrive to speak about the coronavirus in the James Brady Press Briefing Room of the White House, Wednesday, April 22, 2020, in Washington. (AP Photo/Alex Brandon) **FILE**

GDP to drop 12%, debt soars to modern record amid coronavirus: CBO

By Stephen Dinan - The Washington Times

President Donald Trump signs a coronavirus aid package to direct funds to small businesses, hospitals, and testing, in the Oval Office of the White House, Friday, April 24, 2020, in Washington. Sen. Roy Blunt, R-Mo., left, and Jovita Carranza, administrator of the Small Business Administration look on. (AP Photo/Evan Vucci)

Coronavirus relief pushing US deficits to staggering heights

By ANDREW TAYLOR - Associated Press

A note on a locked door at the New Hampshire Employee Security center, which handles unemployment claims, gives directions to those in need in Manchester, N.H., Thursday, April 16, 2020. Due to the virus outbreak, a note on the office door requested that all claims be handled remotely either on the phone or online. (AP Photo/Charles Krupa)

Unemployment to hit 14% in preliminary CBO estimate

By Stephen Dinan - The Washington Times

President Donald Trump speaks at a campaign rally Wednesday, Feb. 19, 2020 in Phoenix. (AP Photo/Rick Scuteri)

WH report says economy accelerated under Trump

By JOSH BOAK - Associated Press

Illustration on rising national debt by M.Ryder/Tribune Content Agency

Plunging America into a sea of debt

By Donald Lambro

President Donald Trump speaks during an event with Israeli Prime Minister Benjamin Netanyahu in the East Room of the White House in Washington, Tuesday, Jan. 28, 2020, to announce the Trump administration's much-anticipated plan to resolve the Israeli-Palestinian conflict. (AP Photo/Alex Brandon)

Federal deficit to hit $1 trillion this year

By Stephen Dinan - The Washington Times

Immigration helps the U.S. economy, but the added competition harms workers in low-skill positions, a study finds. (Associated Press)

Lower-wage workers harmed by immigration, Congressional Budget Office report finds

By Stephen Dinan - The Washington Times