CBO says COVID-19 recovery for the U.S. economy will take about 10 years

Jun 2, 2020
The agency projects the COVID-19 pandemic will cost the U.S. almost $8 trillion in lost economic output this decade.
Until there’s a coronavirus vaccine, some amount of social distancing will likely be with us for the foreseeable future, and that will slow the recovery.
Ethan Miller/Getty Images

Grad students will receive billions in debt forgiveness

Feb 13, 2020
The CBO released a report this week estimating that over the next decade, the federal government will forgive $207 billion in student loans.
A student walking on the University of California, Los Angeles, campus.
Kevork Djansezian/Getty Images

How the CBO became "God" in Washington's budget battles

May 15, 2019
Credit the agency's founding director, Alice Rivlin, who died this week.
Keith Hall, Director of the Congressional Budget Office (CBO), arrives to testify about CBO's Budget and Economic Outlook for Fiscal Year 2019-2029, during a Senate Budget Committee hearing on Capitol Hill in Washington, DC, January 29, 2019.
SAUL LOEB/AFP/Getty Images

The shutdown cost the U.S. economy $3 billion, Congressional Budget Office says

Jan 28, 2019
"We think we'll be down about $3 billion of GDP," CBO Director Keith Hall says.
Congressional Budget Office Director Keith Hall testifies before the Senate Budget Committee on Jan. 24, 2018, in Washington, D.C.
Win McNamee/Getty Images

We're heading toward trillion-dollar deficits. Here are 5 things you need to know.

Apr 10, 2018
The Congressional Budget Office says deficits will nearly equal GDP by 2028. That can't be good, right?
The early morning sun strikes the U.S. Capitol in Washington, D.C. 
Photo by Win McNamee/Getty Images

CBO: Tax cuts, spending to raise deficit to $1 trillion by 2019

Apr 9, 2018
The Congressional Budget Office says the tax and spending bills will increase the budget deficit by billions.
Brendan Hoffman/Getty Images

The GOP tax plan just got more expensive

Nov 8, 2017
A new estimate by the Congressional Budget Office says the plan could add $1.7 trillion to the deficit
Committee chairman Rep. Kevin Brady (R-TX) and ranking member Rep. Richard Neal (D-MA) confer with aides before the start of a House Ways and Means Committee hearing concerning the Trump administration's fiscal year 2018 budget proposals, on Capitol Hill, May 24, 2017 in Washington, DC.
Drew Angerer/Getty Images

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Debt: Another big congressional battle on the horizon

Jun 29, 2017
The Congressional Budget Office is expected to release a report today on the country’s debt ceiling. The debt limit, which caps the amount the United States can borrow, was reinstated back in March. And the Treasury Department began using what…

Breaking down the new CBO score on the House's health care act

May 24, 2017
The Congressional Budget Office estimates 23 million more Americans will be without insurance by 2026 under the amended bill.
 President Trump and Speaker of the House Paul Ryan in the White House Rose Garden after the House of Representative passed the health care bill on May 4.
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CBO score tallies how many will be covered by revised GOP health plan

May 24, 2017
The Congressional Budget Office will release its assessment, or “score,” of the House GOP’s revised health plan this afternoon. When the first draft was released back in March, the CBO estimated 24 million people would lose health insurance under that…