CBO in the headlines as US debt and deficits loom; new projections warn of slower growth and higher deficits ahead. A nonpartisan budget scorekeeper in Congress since 1974.
Over 53 million taxpayers have claimed new deductions introduced by President Trump’s tax law, resulting in an average refund increase of 11.1%. Many workers report receiving thousands of dollars more, but confusion and delays have caused some to miss filing deadlines and increased scam risks. The IRS is also facing staffing challenges.
SNAP participation has declined by about 4.3 million from January 2025 to January 2026. Advocates attribute the drop to tougher eligibility rules and work requirements in the One Big Beautiful Bill, while supporters claim a stronger economy and reduced fraud are responsible. The administration is moving toward tighter controls and reduced federal funding over the next decade, with state programs bearing more cost.
Public-held US debt has reached about 100.2% of GDP at $31.27 trillion, with annual interest costs exceeding $1 trillion. The trajectory remains bipartisan and the growth in debt outpaces the economy, prompting warnings from analysts and policymakers about potential fiscal crises.