Public MoneyExplainer
How to read a CBO budget baseline
A Congressional Budget Office baseline is a law-based projection used to compare policy changes. It is not an enacted budget or a promise about what federal finances will look like.
THE BIG PICTUREWork. Policy. People. Progress.
THE ECONOMY NEWS ANALYSIS
The October deficit reflects the calendar as well as the budget
CBO’s November 9 budget review reports a larger FY2026 deficit and a separate October year-over-year increase shaped by payment timing. Keeping the periods and accounting basis straight makes the headline easier to interpret.
GROWTH & THE WORKING ECONOMYTHE NUMBERSBehind the headlines ↗REAL GDP · Q3 ADV.+3.4% annualizedUNEMPLOYMENT · SEP.4.2% of labor forceCPI INFLATION · SEP.3.7% year over yearFED TARGET · OCT. 283.75–4% range
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Cost of LivingNews analysis
October inflation has a monthly reading—and a missing annual comparison
The October CPI rose 0.4% from September, but BLS could not report many year-over-year changes because it had no October 2025 survey data. The gap changes what this month’s figures can answer.
People & PlacesAnalysis
Why a growing economy can feel different from town to town
National GDP measures production across the country, while state accounts show that growth can vary by place. Neither figure directly measures a household’s wages, costs, or access to nearby work.
GO BEYOND THE HEADLINEWhat does it
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Clear explanations for an economy that rarely feels simple.
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The spending decisions that shape everyday life.
The October deficit reflects the calendar as well as the budget
How to read a CBO budget baseline
A GDP accounting wrinkle changes the public-spending story
Business↗News analysis News analysis Explainer
Small firms, investment, and the people building businesses.
Higher consumer spending is not the same as more customers
What a Fed rate hold means for a small business seeking credit
Buying an Existing Business Versus Starting From Scratch
People & Places↗Analysis Explainer Analysis
How economic change reaches families and communities.
Why a growing economy can feel different from town to town
What State GDP Measures—and What It Says About Residents
The household finances behind the growth headlines
Creative Economy↗Analysis Explainer Analysis
The work behind art, design, culture, and local renewal.
The economic squeeze behind freelance creative work
Why the public domain matters to creative businesses
The creative economy faces a gap in its official scorecard
A BETTER-INFORMED EVERYDAYEconomic growth matters.
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