Committee for a Responsible Federal BudgetOpinion

CBO Estimates FY 2026 Deficit Overtakes 2025, Totals $1.4 Trillion

The United States borrowed $1.4 trillion in the first nine months of Fiscal Year (FY) 2026, including $126 billion in June, ...
Committee for a Responsible Federal BudgetOpinion

Saving MEDICARE Act Would Dramatically Reduce MA Overpayments

Taken together, the Saving MEDICARE Act puts forward a comprehensive plan to address the underlying causes of excessive MA ...
Committee for a Responsible Federal Budget

Principles for Fighting Waste, Fraud, Errors, and Abuse in Reconciliation

As the House considers whether to move forward on a new reconciliation package, there is talk of using reconciliation to significantly reduce government waste, fraud, errors, and abuse (WFEA) – as we ...
Opinion
Committee for a Responsible Federal BudgetOpinion

Supplemental Funding Should Be Carefully Reviewed and Fully Offset

The White House recently requested an $87.6 billion supplemental appropriations package. Their request includes over $70 billion for military and related expenses, including funding for the war in ...
Committee for a Responsible Federal Budget

No State Spared: Mapping the Impact of Social Security's Insolvency

Click on your state to see its estimated impact. Social Security’s retirement program provides benefits for 63 million Americans, including retirees, spouses, and dependents. 1 Yet we have known for ...
Committee for a Responsible Federal Budget

Defense Funding Put in Context

President Trump has requested $1.5 trillion of defense spending in his Fiscal Year (FY) 2027 budget request, including $1.15 trillion of base funding and $350 billion of additional mandatory funding.
Committee for a Responsible Federal Budget

Rising Interest Rates are Exploding the Debt

The 30-year Treasury note just reached its highest yield in almost 19 years, 5.2%, and other interest rates are approaching similar highs. This week the 10-year Treasury yield hit 4.7%, around 55 ...
Committee for a Responsible Federal Budget

Treasury & Markets Anticipate At Least $2 Trillion FY 2026 Deficit

The U.S. Treasury Department released its Quarterly Refunding Documents for Q2 of Calendar Year 2026 today. These documents include information from Treasury and bond market participants about their ...
Committee for a Responsible Federal Budget

The Case for a 3% of GDP Deficit Target

As the debt approaches record levels as a share of the economy, the United States government continues to run the highest peacetime deficits in the nation’s history, outside of a recession or ...
Committee for a Responsible Federal Budget

Waiting To Rescue Social Security Has Weakened Our Options

Source: CRFB estimates based on estimates from the Social Security Administration’s Actuarial Services, rounded to the nearest 5%. Note: Figures represent current estimates of what the policies would ...
Committee for a Responsible Federal Budget

CRFB Statement on President’s FY 2027 Budget

President Trump released his Fiscal Year (FY) 2027 budget request today. The President’s budget is intended to outline the Administration’s priorities, including discretionary spending, mandatory ...