The baseline scenario shows cumulative deficits reaching $22.7 trillion by 2035, and that’s if everything goes according to plan.
Congressional Budget Office digs further into ‘Big, Beautiful Bill’ and now says it will raise deficit by $2.8 trillion, $441 billion more than before
BY FATIMA HUSSEIN, LISA MASCARO AND OTHERS
June 18, 2025
Trump is bringing in enough revenue from tariffs to have a serious impact on the $37 trillion national debt, budget watchdog says
August 12, 2025
In just two months, Trump added another $1.5 trillion of deficit reduction in the form of new tariffs, CBO said. Still, the One…
If borrowing costs remain high, future lawmakers could be left in a tough spot.
It's the equivalent of a new payroll tax or a 17% cut in the size of the military, according to a top think tank.
The national debt is set to surpass the historical high of 106% of GDP that it reached in 1946 by 2030, according to the CBO.
"At this time, it appears that meaningful tariff revenue has the potential to offset the deficit-raising aspects of the recent…
In exclusive interviews with Fortune, Wharton’s Professor Joao Gomes and AEI’s Desmond Lachman warned that while tariffs may slow…
