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Annual federal deficits of at least $1 trillion are expected to start showing up on Congressional stat sheets by 2025, under the Congressional Budget Office’s (CBO’s) assumption that current laws will remain generally unchanged. The CBO says that combined deficits from 2016-2025 could surpass $7.2 trillion. If deficits 10 years(…)
The Congressional Budget Office (CBO) expects the current federal borrowing limit, agreed upon in February 2014, to be surpassed by late summer or early fall in 2015, meaning a government shutdown could be on the horizon. If you think our elected officials in Washington need to figure out a way to lower(…)
Have a look at the changes the debt-to-GDP ratio has undergone since Ronald Reagan was President: Ronald Reagan – 41% George H.W. Bush – 60% Bill Clinton – 70% George W. Bush – 73% Barack Obama – 105% If you think our next President needs to take the debt-to-GDP ratio(…)
The national debt of the United States currently represents 74% of our gross domestic product (GDP). The fiscal watchdog Congressional Budget Office (CBO) expects this figure to increase to 79% by 2025, which would be the highest debt-to-GDP ratio in the United States since World War II. The CBO believes the debt-to-GDP ratio(…)
The Congressional Budget Office (CBO) has projected that the deficit-to-GDP ratio of the United States could climb from 2.5% in 2015 to 4% by 2025 – an increase of 60% in just 10 years due to an aging U.S. population. If you want the government to slash spending and avoid annual budget(…)
The Government Accountability Office (GAO) has revealed its list of the government programs most at risk for abuse, fraud, waste and mismanagement. The GAO found that you to $3.5 trillion is being directed towards these programs each fiscal year. By comparison, President Obama’s proposed budget for 2016 is $4 trillion.(…)
The U.S. Department of Agriculture (USDA) has been sponsoring a home loan program designed to help families with low incomes to buy homes in rural areas. Evidently, the program has been abused by some, including people who used the funds to acquire a tropical paradise home in Hawaii. Over 100(…)
The news often mentions celebrities and civil rights activists who are behind on their taxes or accused of evasion, but a new report proves problems occur within our own federal government, too. The IRS discovered that 312,000 current and former federal employees owe a total of $3.3 billion in unpaid(…)
The Government Accountability Office (GAO) has accused various federal agencies of paying workers on administrative leave a total of $3.1 billion over the last three years. The GAO says at least 363 workers took between one and three years off with pay during that time, and the 57,000 employees who(…)
In 2011, both political parties agreed that spending caps needed to be implemented to bring our nation back from the brink of financial disaster. Thus, the sequester laws of 2011 were passed. The current administration’s proposed budget for 2016, however, includes a request for $74 billion more than allowed by(…)
