JAMES CARTER: CBO’s Latest Report Sounds Alarm On Debt And Growth

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The Congressional Budget Office’s (CBO’s) recently issued report, The Budget and Economic Outlook: 2026 to 2036, offers a sobering look at the fiscal trajectory of the United States. While the economy continues to display resilience, CBO’s projections underscore an uncomfortable truth: federal spending is outpacing economic growth, and the resulting accumulation of debt threatens fiscal and economic disaster.

The report contains a few bright spots, particularly in its assessment of President Donald Trump’s “One Big Beautiful Bill Act,” signed into law last summer. CBO estimates that the measure will increase real gross domestic product (GDP) by an average of 0.7% annually over the 2025–2034 period relative to CBO’s January 2025 baseline. Of note, CBO projects that the act will boost total business fixed investment by $1.1 trillion over the same period. (RELATED: We Have No Idea How Much Pentagon Spent On Octopus ‘Hypnosis,’ Monkey Mind-Reading Studies)

These increases in investment contribute to modest improvements in total factor productivity in the near term. The act also........

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