Tax cuts and spending increases enacted over the past four months will lead to wider than previously expected budget deficits and a mostly temporary spurt in economic growth, the Congressional Budget Office predicted.
The Congressional Budget Office on Monday forecast the return of trillion-dollar deficits in 2020, in the nonpartisan agency's first budget update since the enactment of President Donald Trump's tax cut law last year and the big spending bill this...
Five former chairs of the White House Council of Economic Advisers — most notably, former Federal Reserve Chair Janet Yellen — argued against sweeping entitlement cuts to pay for the most recent tax cuts.
The U.S.’s gold-plated credit rating could be called into question if policy makers entertain further deficit-widening measures in the roughly ninth year of this economic expansion, warn analysts at Fitch Ratings.
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A deficit is the amount by which a government's spending exceeds its revenue. Deficit spending requires that a government borrow money, usually by issuing bonds, and can affect Interest Rates and the value of its Currency.