Gloomy fiscal forecast

By David Lerman and Peter Cohn

Deficits over a decade will probably be 20 p.c larger than forecast simply 9 months in the past, and motion is required by summer season to lift the debt restrict, the Congressional Funds Workplace stated in two new experiences. CQ Roll Name’s David Lerman and Peter Cohn assess the newest finances forecasts and what they could imply for the spending and debt restrict battles to return.

Present Notes:

• CBO: Debt limit to hit as soon as July, budget picture worsens
• Biden attracts GOP jeers over debt limit, while pushing unity
• Biden, McCarthy make ‘no promises’ on debt, will keep talking
• Treasury launches ‘extraordinary measures’ to delay debt limit