May 2026

CBO announces the current members of its Panel of Economic Advisers.

Collections of federal revenues from October 2025 to mid-May 2026 totaled $3.5 trillion, about $50 billion (or 1 percent) less than would be expected on the basis of CBO's February 2026 baseline projections.

CBO examines three options to quickly increase the offensive lethality of the U.S. Navy's fleet of surface ships by 2030.

CBO estimates that a national missile defense system possessing capabilities broadly consistent with those in the "The Iron Dome for America" executive order would cost about $1.2 trillion to develop, deploy, and operate for 20 years.

The federal budget deficit totaled $955 billion in the first seven months of fiscal year 2026, CBO estimates. That amount is $94 billion less than the deficit recorded during the same period last fiscal year.