The Epoch Times
The Epoch Times
AD
The Epoch Times
Support Us
Policies & Impacts

US Federal Debt Will Soar Despite GOP-Led Cost-Cutting Efforts: CBO

US Federal Debt Will Soar Despite GOP-Led Cost-Cutting Efforts: CBO
The U.S. Capitol in Washington on May 31, 2023. Stefani Reynolds/AFP via Getty Images
Tom Ozimek
Tom Ozimek
Reporter
6/28/2023|Updated: 6/28/2023
0:00

America’s public debt is projected to rise to record levels over the next three decades, according to a new Congressional Budget Office (CBO) analysis, which noted that the government’s finances have improved a bit thanks to the GOP-led debt ceiling deal but overall remain “challenging.”

The new forecast, released on Wednesday by the non-partisan spending scorekeeper, extends over a 30-year period the CBO’s earlier 10-year estimate of the effects of the debt ceiling legislation that President Joe Biden signed into law on June 3.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
twitter
Author’s Selected Articles

Putin Says US Tomahawk Supply to Kyiv Would Be Dangerous Escalation

Oct 03, 2025
Putin Says US Tomahawk Supply to Kyiv Would Be Dangerous Escalation

Federal Government Freezes $2.1 Billion for Chicago Transit Projects Over Alleged Race-Based Contracting

Oct 03, 2025
Federal Government Freezes $2.1 Billion for Chicago Transit Projects Over Alleged Race-Based Contracting

What Do Democrats and Republicans Want in Government Shutdown Dispute?

Oct 02, 2025
What Do Democrats and Republicans Want in Government Shutdown Dispute?

Kremlin Says US Aiding Ukraine for Strikes Deep Inside Russia

Oct 02, 2025
Kremlin Says US Aiding Ukraine for Strikes Deep Inside Russia
Related Topics
debt ceiling
Federal debt
Add to My List
Save
The Epoch Times
To ensure we reach the high standards of reliability and neutrality that you expect from us, we are engaging with Ad Fontes Media to analyze our content. If you find an article you think falls short of the standard, please submit the link through this form.
Copyright © 2000 - 2025 The Epoch Times Association Inc. All Rights Reserved.