The U.S. is projected to run a budget deficit of at least $2 trillion in fiscal year 2026, according to Treasury Department ...

Last year, U.S. Treasury Secretary Scott Bessent set a target to cut the U.S. federal budget deficit to just 3% of GDP by the end of President Donald Trump’s second term. The deficit reduction was a ...

In its early days, the Elon Musk–led Department of Government Efficiency (DOGE) bragged it could cut up to $2 trillion from the U.S. federal budget. In December, Musk conceded the special advisory ...

U.S. oil production is plateauing near record highs, making a 3 million b/d increase by 2028 increasingly unlikely. The CBO projects rising deficits and debt despite tariff revenues, driven by tax ...