The Congressional Budget Office on Tuesday released its economic projections for the remainder of 2020 and for 2021. “CBO estimates that real (inflation-adjusted) gross domestic product (GDP) will contract by 11 percent in the second quarter of this year, which is equivalent to a decline of 38 percent at an annual rate. In the second quarter, the number of people employed will be almost 26 million lower than the number in the fourth quarter of 2019.”

America’s growing budget deficit will increase debt to the highest level in U.S. history by far, according to the Congressional Budget Office 2018 long-term budget outlook.

Rising interest rates will put increasing pressure on government finances and push interest payments to record levels in the coming decades, the Congressional Budget Office said Tuesday.

The government is now staring at $100 trillion in total debt, the Congressional Budget Office said Tuesday, chronicling the disastrous trajectory of federal fiscal health.

The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.

There is an old saying that you can’t teach an old dog new tricks, and we’ve learned that again with the Congressional Budget Office and its latest highly misleading fiscal forecast.

The CBO’s latest projections are nothing but bad news for fiscal conservatives.

Republicans continue to bash the Congressional Budget Office for what they say are inaccurate estimates of the impact of their legislation to repeal Obamacare. But the former directors of the nonpartisan organization wrote a letter to congressional leadership Friday asking Congress to keep using the CBO.

President Trump’s budget doesn’t solve the deficit, though it makes a significant dent, the Congressional Budget Office said in a new report Thursday, saying that his deep spending cuts on everything from health care to education would save an additional $3.3 trillion over the next 10 years.