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Congress · 118th Congress

CBO: Debt limit to hit as soon as July, budget picture worsens

That compares to already slowing growth in 2022, when the economy expanded by an inflation-adjusted 1 percent, down sharply from the previous year coming out of the pandemic-induced downturn.

White House · 118th Congress

White House budget set for early March delivery

And the $1.7 trillion fiscal 2023 omnibus spending package didn’t clear until Dec. 23, giving the administration less time to assess agencies’ needs for the new fiscal year starting Oct. 1 and provide

Policy · 117th Congress

OMB: Deficits, growth lower in the near term, inflation up

when the Biden administration released its fiscal 2023 budget request, the Office of Management and Budget in a report issued Tuesday sees the deficit for the current fiscal year dropping to just over $1