Congressional Budget Office

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Budget Deficit Soars Past $1.8T
 Budget Deficit Soars Past $1.8T 
Mar 20, 2009 4:01 PM CDT

Budget Deficit Soars Past $1.8T

(Newser) - The federal budget deficit will surpass $1.8 trillion during the current fiscal year, the Congressional Budget Office said today. The figure far outstrips the previous estimate of $1.2 trillion and spells trouble for President Obama's proposed budget, the Wall Street Journal reports, but the White House budget director...

US 2009 Deficit at Least $1.2T
 US 2009 Deficit at Least $1.2T 
Jan 7, 2009 11:19 AM CST

US 2009 Deficit at Least $1.2T

(Newser) - This fiscal year, which started in October, will see the US running a budget deficit of at least $1.2 trillion, the largest ever, the Washington Post reports. That number could swell to $1.6 trillion if Barack Obama’s massive $800 billion stimulus plan is approved by Congress. The...

Tab for Fannie, Freddie Bailout Pegged at $25B

But chance better than 50% feds won't need to step in: budget office

(Newser) - A federal bailout of Fannie Mae and Freddie Mac will cost $25 billion, the Congressional Budget Office said today, but there’s a better than 50% chance no rescue will be needed. The plan sought by Treasury Secretary Henry Paulson would extend an unlimited line of credit to the government-sponsored...

Record 28 Million Americans to Get Food Stamps

Slip into poverty a grim economic indicator

(Newser) - In an economic indicator that paints a grim future for swaths of the US population, an all-time record 28 million Americans are expected to be close enough to poverty to receive $36 billion in food stamps in the coming fiscal year, reports the New York Times. There is a surge...

Given Rent Prices, Homes Still Too High

Expect another 15% drop if historical relationship holds

(Newser) - If rent prices are any indication, home prices aren’t done falling, according to one former and two current Federal Reserve economists. Annual rents have historically held steady at about 5% of home prices, but since 1996 home prices have left rents in the dust, the Wall Street Journal explains....

What Price War? Try $2.4T
What Price War? Try $2.4T
Oct 24, 2007 4:16 PM CDT

What Price War? Try $2.4T

Figure much higher than previous estimates for Iraq, Afghanistan

(Newser) - Americans will have to pony up $8,000 apiece to fund the Iraq and Afghanistan wars through the next decade—a total that could top $2.4 trillion—according to a projection by the Congressional Budget Office released today. The figure dwarfs previous CBO estimates because it factors in $705...

Immigration Bill Survives Senate Onslaught

Coalition in tatters, but holding, despite barrage of amendments

(Newser) - The immigration bill before the Senate dodged bullets from the right and the left yesterday; when the smoke cleared the coalition backing it appeared to be intact—if barely, the Washington Post reports. An amendment to block legalization for many illegals was defeated; one to extend visas to many more...

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