In fact, higher spending under Obama accounts for less than 20 percent of this year’s deficit, and nearly half of that was additional defense spending—not domestic spending.

What Democrats and the Biden administration did was to make the COVID crisis their baseline for spending and keep it there.

In deciding whether to vote for the tax and spending package now sitting before the Senate, Sen. Rand Paul (R–Ky.) says he's ...

A new analysis from the White House is projecting that the Senate version of the One Big Beautiful Bill Act could lead to a ...

The US budget deficit soared in fiscal year 2023, which will likely complicate Congress’ efforts to come to a federal spending deal before government funding runs out next month.

The 2018 deficit was projected to decline from 2017 levels, but that was before the tax bill, emergency disaster bills and increased spending. Hotspots ranked Start the day smarter ☀️ Funniest ...

In fact, the 2020 deficit was higher than the combined deficits across all four years of World War II. In 2020, for every $10 in tax revenue that came in, $19 in spending went out. Now, after a ...

Federal spending in the first five months of fiscal year 2025 was 13% higher than the prior year, while tax receipts were 2% higher. Spending increased by $356 billion in that period when compared ...

America’s deficit is rising sharply and will surpass $1 trillion per year by 2020, a gap that has grown since Congress cut taxes and increased spending, the Congressional Budget Office reported ...

The nonpartisan Congressional Budget Office's latest budget review found the federal deficit more than doubled to $1.6 trillion in the first 10 months of FY2023 compared to a year ago.

The numbers: The federal budget deficit was $1.26 trillion in the first nine months of the fiscal year, the Treasury Department reported Thursday — a 9% drop compared with the year-ago period ...

For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion. That would be up 33.7 percent from last year's deficit of $665.8 billion.