Monthly Budget Review: May 2026

The federal budget deficit totaled $1.2 trillion in the first eight months of fiscal year 2026, CBO estimates. That amount is $116 billion less than the deficit recorded during the same period last fiscal year.

Risk Sharing in the Federal Reserve's Emergency Lending Facilities During the COVID-19 Pandemic

CBO describes the role the Federal Reserve plays in stabilizing financial markets during crises and estimates the costs of programs created during the COVID-19 pandemic to provide liquidity and address stress in financial markets.

Increasing the Size and Missile Capability of the Navy's Fleet Within the Next Five Years

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

Potential Costs of a National Missile Defense System

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.

Monthly Budget Review: April 2026

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.

Answers to Questions for the Record Following a Hearing on The Budget and Economic Outlook: 2026 to 2036

The Subcommittee on Fiscal Responsibility and Economic Growth of the Senate Committee on Finance convened a hearing at which CBO's Director testified. This document provides CBO's answers to questions submitted for the record.

DoD's 2026 Budget Request and Plan for Funding Provided by the 2025 Reconciliation Act

CBO analyzes one of DoD's largest and most complicated budget requests in the past 50 years. DoD's 2026 budget request totaled $961 billion, including $113 billion in funding provided by the 2025 reconciliation act.

The Federal Government's Role in Financing Rural Housing

CBO examines rural housing demographics, federal credit programs and other programs that support rural communities, and the total budgetary effects of those federal credit programs.

Testimony on Challenges Facing the Navy's and Coast Guard's Shipbuilding Programs and the Shipbuilding Industrial Base

Eric J. Labs, CBO's Senior Analyst for Naval Forces and Weapons, testifies at a joint hearing before the House Subcommittees on Seapower and Projection Forces and on Coast Guard and Maritime Transportation.

How Changes in Economic Conditions Might Affect the Federal Budget: 2026 to 2036

To show how economic conditions affect its budget projections, CBO analyzed how revenues, outlays, and deficits might change if the values of key economic variables differed from those in the agency's forecast.