The Congressional Budget Office (CBO) on Wednesday released its monthly budget review for June, estimating that the United States’ federal spending is up by $144 billion in the first six months of 2025 compared to the same period in 2024.
The office also estimated that the federal budget deficit for the first nine months of the 2025 fiscal year, which began in October, is $1.3 trillion. The number is $65 billion more than it was for the first nine months of the 2024 fiscal year.
“For the first half of the calendar year, we have seen a year-over-year rise of $144 billion in government spending, despite all the talk of bringing spending down,” Committee for a Responsible Federal Budget President Maya MacGuineas said.
”If lawmakers want to cut taxes, they need to control spending, and given our debt levels, they should reduce it by more than they cut taxes,” she continued. “These numbers cause one to wonder if DOGE was merely a distraction rather than an effective focus on cutting this year’s deficit. Bottom line—high levels of debt combined with tax cuts and growing spending is a recipe for fiscal disaster, and we should change course immediately.”
Click this link for the original source of this article.
Author: Faith Novak
This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
