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The federal debt held by investors was 99% of the size of the U.S. economy in 2024, according to the nonpartisan Congressional Budget Office (CBO) in June, and projected to hit 122% by 2034. For ...
As the co-heads of the newly created Department of Government Efficiency, or DOGE, billionaires Elon Musk and Vivek Ramaswamy are promising to slash at least $2 trillion from the federal budget.
It estimated that the increase in revenue would help shrink the federal budget deficit by $2.7 trillion from fiscal years 2025 to 2034, after accounting for economic impacts and retaliation from ...
On October 28, 2024, at a Trump rally in Madison Square Garden, Musk stated that he believed DOGE could remove US$2 trillion from the U.S. federal budget [45] (a figure higher than the federal government's total discretionary outlays in 2023). [46] [47] [48] Musk has not specified whether these savings would be made over a single year or a ...
The Committee for a Responsible Federal Budget (CRFB) is a non-profit public policy organization based in Washington, D.C. that addresses federal budget and fiscal issues. It was founded in 1981 by former United States Representative Robert Giaimo (D-CT) and United States Senator Henry Bellmon (R-OK), [2] and its board of directors includes past heads of the House and Senate Budget Committees ...
The National Commission on Fiscal Responsibility and Reform (often called Simpson–Bowles or Bowles–Simpson from the names of co-chairs Alan Simpson and Erskine Bowles; or NCFRR) was a bipartisan Presidential Commission on deficit reduction, [1] created in 2010 by President Barack Obama to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal ...
substantially reducing federal debt, and; administering government spending and cuts. Gore presented the National Performance Review on September 7, 1993. Gore cited the long-term goal to "change the very culture of the federal government," and designated "optimism" and "effective communication" as the keys to success. [11]
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