As tensions rise around fiscal policy in the United States, the Congressional Budget Office (CBO) finds itself in the crosshairs of political critique. This summer, debate swirled around a Republican bill featuring extensive tax breaks and spending reductions, bringing heightened scrutiny of the CBO's analyses.
Speaker of the House Mike Johnson labeled the agency as “notorious for getting it wrong,” while House Majority Leader Steve Scalise stated that they continue to make the same mistakes. President Trump even dismissed the CBO as “very hostile,” reflecting a concerning trend of skepticism toward their findings.
In an exclusive interview, CBO Director Phillip Swagel addressed these criticisms, asserting that their mission is to provide accurate, nonpartisan insights for Congress and the public. “We are just trying to get it right and inform the Congress and the country. There’s no agenda here,” Swagel stated, reinforcing the importance of their work in understanding legislative impacts on the economy.
The CBO aims to deliver data on economic growth and financial health, often resulting in analyses that draw sharp disagreements from both major political parties. “Sometimes it’s noise, sometimes it’s not. But we just tune it out. Here we do our work. The thing I do care about a lot is to ensure our work is accurate,” Swagel explained, highlighting their focus amidst political tumult.
Swagel has led the agency since 2019, employing his extensive experience from various governmental roles to maintain a steady course despite criticism. His economic expertise rooted in terms like mass deportation and tariffs are among the several pressing challenges that complicate the task of forecasting economic trajectories.
In light of recent changes, including Trump’s sweeping tariff policies and their potential impact on inflation, Swagel acknowledges that the traditional economic models utilized by the CBO may soon require re-evaluation. As such, the agency estimates the significant tariffs could ultimately ease the national deficit over the coming decade, providing a complex but critical perspective in today’s fiscal debates.
Addressing the interrelation between immigration and economic outcomes, Swagel pointed out how varying impacts can emerge across different governmental levels, further intensifying the debate surrounding fiscal priorities. The significance of such discussions feeds directly into the larger context of the nation’s growing debt and the sustainability of social programs like Social Security and Medicare.
Despite the inherent challenges and the political fire directed at the CBO, Swagel maintains a calm and measured approach. He emphasized the necessity for an independent entity that delivers factual data rather than partisan opinions: “It’s important for the country to have a group of analysts who don’t have an opinion — who are just saying, ‘Here’s the facts.’ We’re not here to say if something is good or bad. We’re just saying, ‘Here’s what it costs, here’s what it does.’ And that’s our role.”