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The Latest Breaking News from Congressional Budget Office

Trump promised a ‘Golden Dome’ to stop missiles. Now, experts say it’s a $1.2tn gift to defense contractors with a fatal weakness

Donald Trump’s “Golden Dome” missile defense system is shaping up to be one of the most expensive military projects in U.S. history and experts say it might not even work when it matters most. The nonpartisan Congressional Budget Office (CBO) estimated the system will cost a staggering $1.2 trillion over…

The Mary Sue

Cost estimate for 'Golden Dome' missile defense system balloons to $1.2 trillion

It will likely cost about $1.2 trillion to develop and operate President Trump's planned "Golden Dome" missile defense system, according to a new Congressional Budget Office report.

Space

Legislative branch hearing sidesteps last year’s drama

At a Senate Appropriations Legislative Branch Subcommittee hearing Wednesday, the heads of the Government Publishing Office, Government Accountability Office and Congressional Budget Office defended their agencies’ fiscal 2027 budget requests, skirting any mention of legislative dustups from last year. It was the panel’s first hearing of the year, as well…

Roll Call

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CBO: Federal deficits and debt to worsen over next decade

The Congressional Budget Office projects worsening federal deficits and rising debt over the next decade, driven by increased spending on Social Security, Medicare, and debt service payments

The Independent UK

Budget office expects Federal Reserve to cut rates in 2026

The Congressional Budget Office has released new economic projections, expecting the Federal Reserve to cut short-term rates in 2026

The Independent UK

Trump's Recent Tariff Rollbacks Erase Nearly $800 Billion In Expected Debt Reduction: CBO

The Congressional Budget Office (CBO) has released new projections indicating that the recent rollbacks of President Donald Trump‘s aggressive tariff strategy have nullified an anticipated $800 billion reduction in debt over the next decade.

Benzinga

US Congressional Budget Office hit by suspected cyberattack - here's what we know

Foreign adversaries may have accessed a congressional network.

TechRadar

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Obamacare insurance prices will jump up 26% next year, report predicts

Enhanced subsidies keeping premiums affordable for millions will expire, threatening to more than double what households pay out of pocket

The Guardian - US

Unemployment, inflation and GDP growth will be worse this year than projected, budget office says

The Congressional Budget Office has released new economic projections, indicating that unemployment, inflation and overall growth will worsen in 2025 before improving over the next year

The Independent UK

Trump immigration crackdown could spur U.S. population decline as soon as 2031

Population decline could drive labor shortages, higher prices and a crisis of care for the elderly.

Axios

I Asked ChatGPT What $3 Trillion in New Debt Really Means for America — Here’s What It Said

With the Congressional Budget Office projecting $3.3 trillion in new debt from recent tax and spending legislation, we asked ChatGPT to break it down.

GOBankingRates

Trump Touts 'Incredible' Tariff Strategy After Congressional Budget Office Projects $4 Trillion Deficit Cut, Even As Economists Warn Of Slower Growth

On Friday, President Donald Trump celebrated a Congressional Budget Office report projecting that his sweeping tariffs will reduce U.S. deficits by $4 trillion over the next decade, even as analysts caution the levies could weigh on economic growth and face legal challenges.

Benzinga

US national debt reaches a record $37 trillion, the Treasury Department reports

The U.S. government’s gross national debt has surpassed $37 trillion, setting a new record

The Independent UK

Trump tax bill to add $3.4tn to US debt over next decade, new analysis finds

Congressional Budget Office report estimates bill will leave 10m more Americans without health insurance by 2034

The Guardian - US

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GOBankingRates

Here’s How Much Every Tax Bracket Would Gain — Or Lose — Under Trump’s ‘Big, Beautiful Bill’

After many months of touting the 'Big, Beautiful Bill,' President Donald Trump finally passed it with the approval of the House and Senate. How will it affect Americans' wallets?

The Independent UK

Republicans slammed online for celebrating children going hungry and millions losing Medicaid from Trump’s bill

Republicans gave thumbs up and danced in the House as they celebrated stripping health insurance from millions of fellow Americans.

Reason

Republican Holdouts

Plus: Zohran Mamdani doesn't understand what New York's families need, Lia Thomas titles revoked, and more...

The Independent UK

Senate megabill would explode debt and kick 11.8 million off Medicaid: ‘Our fiscal house is basically on fire’

Over a decade, the bill would add at least $3.3 trillion to the national debt, according to the Congressional Budget Office

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The Conversation

What is reconciliation − the legislative shortcut Republicans are using to push through their ‘big, beautiful bill’?

The word “reconciliation” sounds benign, even harmonious.

The Independent UK

The Latest: NATO leaders agree on spending hike, vow to defend each other

NATO leaders agreed on Wednesday on a massive hike in defense spending after pressure from U.S. President Donald Trump, and expressed their “ironclad commitment” to come to each other’s aid if attacked

The Guardian - US

Trump’s tax bill would add $2.4tn to US debt, says non-partisan analysis

The Congressional Budget Office warns Trump’s ‘one big, beautiful bill’ will leave 10.9 million uninsured by 2034

The Independent UK

Canada joins talks to join US ‘Golden Dome’ project despite frosty relationship

Prime Minister Mark Carney's office said there are ‘active discussions’ between the two nations on security systems – both existing and future

The Independent UK

Trump’s Big Beautiful Bill edges closer to passing. Here’s what it says, and what it means for you

The bill looks to slash taxes and increase spending on oil drilling, the military, and immigration, while also making cuts to Medicaid and food assistance programs

The Independent UK

US economic growth to slow in the next 30 years, fueled by debt and declining birth rates, CBO says

Weak population gains and increased government spending will result in slower overall economic growth over the next 30 years, the nonpartisan Congressional Budget Office said Thursday

Fortune

US debt could explode above 200% of GDP in two decades if Trump's tax cuts become permanent, CBO says — putting it at unsustainable levels

"Macroeconomic feedback effects would further increase interest rates and, therefore, lead to even worse fiscal outcomes," the Peter G. Peterson Foundation warned.

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