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EXPLAINED: 3 | Vintage Vibes

‘The state of our union is more indebted than ever’: Budget watchdog continues war of words with Trump White House

The Committee for a Responsible Federal Budget took heat over the weekend, with Scott Bessent saying its leader “should be ashamed.”

Fortune

In less than a year, Trump erased 12 years of solvency for the trust fund that pays for Medicare Part A

The CBO estimates that benefit reductions would start at 8% in 2040 and steadily climb to a 10% cut by 2056.

Fortune

New Fed report shows Biden's immigration policies top Trump's on economic growth

A new research paper found that the huge influx of foreigners under President Biden's open border policy had the beneficial role of increasing the labor force, especially in areas where the U.S. sorely needed workers.

Fortune

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New CBO report shows national debt spiraling into uncharted territory by 2035—and Trump's tariffs defeat will make the picture even worse

By 2035, the CBO expects the deficit to reach $2.96 trillion or 6.2% of GDP versus 5.8% today, and almost double the multi-decade, pre-pandemic average.

Fortune

Urgent Social Security Warning: New CBO Report Says Benefits Could Be Cut by 2032

If you rely on Social Security now—or plan to in the next decade—there’s a new warning you can’t afford to ignore. The Congressional Budget Office...

Saving Advice

Court ruling puts federal revenue forecast on shaky ground

The rejection of Trump's strategy hits budget projections that assumed a hefty spike in tariff revenue to help reduce federal deficits.

Roll Call

The ‘alternative scenario’ of an even bigger national debt disaster is in play after the Supreme Court ruled Trump’s tariffs illegal

Federal debt was set to reach 120% of GDP by 2036, the CBO projected, but that assumed the tariffs would stay in place.

Fortune

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U.S. To Spend $24.4 Trillion More Than It Has Over the Next Decade, Report Warns

The cost of paying the interest is now the central story, and it's a grim one.

Reason

$56 trillion national debt leading to a spiraling crisis: budget watchdog warns the U.S. is walking a crumbling path

Trump is putting the U.S. economy on a "sugar high" and leaving other people holding the bill when it comes due a decade from now, according to the CRFB.

Fortune

A U.S. 'debt spiral' could start soon as the interest rate on government borrowing is poised to exceed economic growth, budget watchdog says

CRFB warned the actual fiscal outlook could be far worse than even the latest sobering projections.

Fortune

Trump's immigration curbs will help take 2.4 million people out of the workforce, but he's betting AI can pick up the slack

Can AI make up lost productivity from crashing fertility rates and shrinking immigration flows? Trump will certainly hope so.

Fortune

Interest on the National Debt Will Cost $16 Trillion Over the Next 10 Years

A new Congressional Budget Office outlook expects entitlement spending and the national debt to explode in the next decade.

Reason

‘Nothing short of self-sabotage’: Watchdog warns about national debt setting new record in just 4 years

“Our nation’s deficits, debt, interest payments, and trust funds are all in terrible shape,” says Maya MacGuineas, president of the CRFB.

Fortune

America’s national debt borrowing binge means interest payments will rocket to $2 trillion a year by 2036, CBO says

Annual interest payments will double to $2.14 trillion by 2036, nearly double the yearly budget for spending on defense.

Fortune

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Fortune

‘The fiscal trajectory is not sustainable’: CBO warns about the highest debt in U.S. history as Trump adds $1.4 trillion to 10-year deficit

The national debt is set to surpass the historic high of 106% of GDP (which it reached in 1946) by 2030, according to the CBO.

The Independent UK

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

Fortune

America borrowed $43.5 billion a week in the first four months of the fiscal year, with debt interest on track to be over $1 trillion for 2026

“The longer lawmakers wait, the higher the price for Americans,” warned Maya MacGuineas, president of the Committee for a Responsible Federal Budget.

Reason

Deploying Troops to U.S. Cities Cost Half a Billion Dollars in 2025

Maintaining a uniformed domestic security force is pricey in terms of life, liberty, and dollars.

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Fortune

'Immigrants are subsidizing the U.S. government': how the undocumented actually shrank the deficit by $14.5 trillion over 3 decades

Cato Institute ran the math and found that without immigrants' contributions, the national debt would be a third higher than today's $38 trillion.

Fortune

Kevin Warsh will inherit a challenge no Fed chief has faced since post-World War II

Debt and deficits will put Kevin Warsh under great pressure to keep interest rates low and rely on short term borrowing. But long term that will have serious consequences.

The Independent UK

The Latest: FBI executes search warrant at Fulton County elections office near Atlanta

FBI agents are executing a search warrant at the Fulton County elections office near Atlanta

Fortune

The American taxpayer spent nearly half a billion dollars deploying federal troops to U.S. cities in 2025, CBO finds

Trump’s federal troop deployment to U.S. cities is costing about $93 million a month, according to the Congressional Budget Office.

Roll Call

CBO: National Guard deployments cost half-billion dollars

Patrols in six U.S. cities cost about $496 million in 2025, and continued deployments would cost about $93 million per month.

Fortune

Trump's own Big Beautiful Bill could add $5.5 trillion to the deficit and sabotage his plan to 'grow out' of the national debt crisis

Prior to the passage of the One Big Beautiful Bill, Trump’s “growth” math stood a chance of closing the gap. Now it’s much harder to see it working.

Fortune

How the middle class was hollowed out from 1979 to 2022, according to new federal data

The top 1% saw its share of household income double from 1979 to 2022, going from 9% to 18%, the CBO said. The middle cohort saw the biggest decline.

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