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The Congressional Budget Office (CBO) estimated on Friday that the federal budget deficit reached $383 billion in the past two months. The nonpartisan budget scorekeeper estimated that the government racked up a deficit of $317 billion in November, which is $68 billion higher than the deficit recorded during the same period last year and $250…
President Biden and congressional leaders made little progress toward securing a deal to raise the nation’s debt limit at a crucial meeting Tuesday afternoon — though they did express some optimism about future talks between staff from the White House and Speaker Kevin McCarthy (R-Calif.). The talks hit a roadblock before the principals arrived at…
Biden touts federal deficit: ‘Largest one-year drop in American history’ President Biden on Friday touted recent figures showing the federal budget deficit fell by $1.4 trillion in fiscal year 2022 from the prior year’s levels, as Democrats work to fend off Republican attacks on the economy and inflation ahead of midterm elections. Biden boasted the…