The federal budget deficit was $598 billion for the first half of fiscal year 2018, CBO estimates, $71 billion more than the shortfall recorded during the same period last year.
In 2014, average household income before accounting for means-tested transfers and federal taxes was $19,000 for the lowest quintile and $281,000 for the highest quintile. After transfers and taxes, those averages were $31,000 and $207,000.
CBO estimates that the costs of achieving a 355-ship Navy under two different approaches would average over $100 billion annually through 2047. Those scenarios are compared with two others that would cost less and involve a smaller fleet.
CBO estimates that the net cost of the TARP will total $32 billion—$1 billion less than it estimated in June 2017 because of a decrease in projected outlays for mortgage programs. Almost all of the TARP’s transactions have been completed.
The federal budget deficit was $392 billion for the first five months of fiscal year 2018, CBO estimates, $42 billion more than the shortfall recorded during the same period last year.
View CBO’s updated budget infographics to see how much the federal government spent and took in during fiscal year 2017, as well as broader trends in the budget over the past few decades.
CBO will release its annual Budget and Economic Outlook on Monday, April 9, after the Congress returns from its spring recess. The report will be available on CBO’s website at 2:00 p.m. ET.
On February 27, 2018, CBO Director Keith Hall testified before the House Budget Committee, presenting seven important things to know about how CBO does its analysis.
This report examines the depot-level maintenance experiences of aging combat aircraft currently in use by DoD and provides insights for the Congress and DoD to consider as the F-35 fleet enters service.
The federal budget deficit was $174 billion for the first four months of fiscal year 2018, CBO estimates, $16 billion more than the shortfall recorded during the same period last year.