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  1. U.S. Treasury: FY 2025 Deficit Totaled $1.8 Trillion - AAF

    Oct 17, 2025 · The U.S. Treasury released its final Monthly Treasury Statement for FY 2025, estimating a $1.8 trillion deficit for the year. The deficit was the net effect of $7.0 trillion of spending and $5.2 …

  2. AAF - The American Action Forum

    2 days ago · The American Action Forum injects forward-thinking ideas into the public debate that will build a better economic future.

  3. Sizing Up Interest Payments on the National Debt - AAF

    Oct 28, 2025 · The federal government spent $970 billion on interest payments on the national debt in FY 2025 - the equivalent of 19 percent of all federal revenue collections and roughly $7,300 per …

  4. About - AAF

    The American Action Forum (AAF), led by former Director of the Congressional Budget Office Douglas Holtz-Eakin, proudly leads the center-right on domestic economic and fiscal policy issues. It …

  5. The Biden Regulatory Record - AAF

    Jan 29, 2025 · EXECUTIVE SUMMARY According to the aggregated collection of self-reported estimates from federal agencies, the cumulative total of regulatory costs under the Biden …

  6. The AAF Plan to Address the Nation's Debt Challenge - AAF

    Oct 21, 2024 · The AAF plan includes sweeping policy changes to both the revenue and spending sides of the federal budget and would achieve the fiscal goal of roughly stabilizing debt-to-GDP within a …

  7. Section 230 in the Era of Generative AI - AAF

    Oct 16, 2025 · Executive Summary Generative artificial intelligence (Gen AI), which creates new content such as text and images from user prompts, raises questions about whether Section 230 of the …

  8. What the U.S. Trade Deficit Really Means - AAF

    Aug 6, 2025 · Executive Summary On April 2, 2025 – dubbed “Liberation Day” by the Trump Administration – the president signed an executive order declaring that the “large and persistent” …

  9. Douglas Holtz-Eakin - AAF

    6 days ago · Before founding AAF in 2009, Dr. Holtz-Eakin served in a variety of influential policy positions. During 2001-2002, he was the Chief Economist of the President’s Council of Economic …

  10. Where Do FY 2026 Appropriations Stand? - AAF

    Aug 26, 2025 · When Congress returns from its August recess on September 2, it will have just 28 days to complete work on the 12 full-year appropriations bills for FY 2026 or enact another continuing …