The CBO report says a $15 minimum wage would pull 900,000 people out of poverty but cost almost 1.5 million jobs.
Even if the numbers return to where they once were, the economy is probably going to look very different.
The agency projects the COVID-19 pandemic will cost the U.S. almost $8 trillion in lost economic output this decade.
The CBO released a report this week estimating that over the next decade, the federal government will forgive $207 billion in student loans.
Credit the agency's founding director, Alice Rivlin, who died this week.
"We think we'll be down about $3 billion of GDP," CBO Director Keith Hall says.
The Congressional Budget Office says deficits will nearly equal GDP by 2028. That can't be good, right?
The Congressional Budget Office says the tax and spending bills will increase the budget deficit by billions.
A new estimate by the Congressional Budget Office says the plan could add $1.7 trillion to the deficit
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 are called “extraordinary measures” to help cover its obligations. But those will run out at […]