• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Current price of oil as of June 15, 2026

2

Current price of silver as of Monday, June 15, 2026

3

Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI

1

Current price of oil as of June 15, 2026

2

Current price of silver as of Monday, June 15, 2026

3

Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
PoliticsBudget

The shutdown ‘accomplished nothing and caused significant harm’ to many people, budget watchdog says, giving ‘new meaning to fiscal irresponsibility’

Nick Lichtenberg
By
Nick Lichtenberg
Nick Lichtenberg
Business Editor
Down Arrow Button Icon
Nick Lichtenberg
By
Nick Lichtenberg
Nick Lichtenberg
Business Editor
Down Arrow Button Icon
November 12, 2025, 11:35 AM ET
Donald Trump
President Donald Trump, joined by members of the pharmaceutical industry and administration officials, delivers remarks on lowering drug prices in the Oval Office at the White House on November 06, 2025 in Washington, DC. Trump announced that his administration has reached agreements with drugmakers Eli Lilly and Novo Nordisk that would lower the price of some GLP-1 weight loss medications. Andrew Harnik/Getty Images
Add Fortune on Google for similar content.

The Committee for a Responsible Federal Budget (CRFB) issued a scathing indictment on Wednesday following the reported end of America’s longest government shutdown. Maya MacGuineas, president of the CRFB, said the political stalemate “accomplished nothing and caused significant harm to many individuals, not to mention our reputation around the world.”

Recommended Video

MacGuineas, leader of a bipartisan budget watchdog, had a bipartisan rebuke for Congress. “Policymakers gave new meaning to fiscal irresponsibility,” she said, since the previous standoff was over a deficit-busting $1.5 trillion in health-care subsidies and the current reopening package locks in what the CRFB calculates as $3.4 trillion of new borrowing by wiping the Pay-As-You-Go (PAYGO) scorecard, a favorite policy of the CRFB.

“Lawmakers should stop papering over their fiscal recklessness and face the tough decisions head-on,” MacGuineas argued, “or at the very least, follow their own rules.”

The resolution to end the shutdown, which had been ongoing since before October 1, came as the Senate approved an amended version of a Continuing Resolution (CR) on November 10. The House is now preparing to vote on this CR-Minibus appropriations bill.

While the reopening package provides full-year appropriations for Agriculture, Legislative Branch, and Military Construction-Veterans Affairs, and extends current funding for the remaining appropriations bills, the CRFB warns the true cost of reopening the government is massive fiscal negligence.

The CRFB stressed that while the government may reopen soon, the underlying fiscal instability remains acute, describing the nation’s fiscal path as “increasingly unsustainable.” Estimates from the Congressional Budget Office (CBO) show the 12-month federal budget deficit totaled $1.8 trillion between November 2024 and October 2025, with the federal debt now approaching 100% of GDP (it was 99.8%)

Even with the immediate crisis resolved, lawmakers must still find agreement on nine appropriations bills for the rest of the fiscal year by the end of January. They are cautioned to do so without further increasing the debt and are urged to reestablish enforceable discretionary spending caps.

The CRFB insists that any extensions must be fiscally responsible, requiring reforms and offsets so the resulting package is “fully paid for – ideally twice over in accordance with Super PAYGO, given how bad things have gotten.”

The watchdog concluded by stating that “it’s hard to imagine the bar for dysfunctional government getting any lower than it is right now.” The CRFB called on both parties to work together to lower health care costs and reduce the debt, urging lawmakers to reopen the government without delay, and “without writing off trillions in recent borrowing or providing themselves a blank check for future borrowing.”

For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. 

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Nick Lichtenberg
By Nick LichtenbergBusiness Editor
LinkedIn icon

Nick Lichtenberg is business editor and was formerly Fortune's executive editor of global news.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Dario Amodei, co-founder and chief executive officer of Anthropic, at Bloomberg House
AIAnthropic
The shutdown of Anthropic’s Mythos model sparks a global scramble for sovereign AI
By Beatrice NolanJune 16, 2026
1 hour ago
trump
Middle EastIran
Iran, Trump have a common problem in their deal to end the war: Israel
By Jon Gambrell, Sam Metz, Samy Magdy and The Associated PressJune 16, 2026
3 hours ago
U.S. President Donald Trump speaks with reporters while aboard Air Force One en route to Chippewa Falls, Wisconsin on June 5, 2026.
Economynational debt
Tariffs are only generating 25% of the revenue needed to pay interest on national debt—despite pitch that it would be a silver bullet
By Eleanor PringleJune 16, 2026
5 hours ago
More than manufacturing: Vietnam has hopes to become Asia’s next cultural powerhouse
MagazineMedia
More than manufacturing: Vietnam has hopes to become Asia’s next cultural powerhouse
By Lee WilliamsonJune 16, 2026
6 hours ago
A woman wearing a hat and scarf holds a sign that says, "Don't let data centers drain us."
PoliticsData centers
Data center hate is snowballing, and construction setbacks in the first three months of 2026 have already exceeded last year’s, report finds
By Sasha RogelbergJune 16, 2026
9 hours ago
President Donald Trump shakes hands with American mixed martial artist Josh Hokit as Hokit stands on the edge of the UFC ring during a championship event at the White House.
CryptoDonald Trump
UFC fighters at the White House got paid with Trump family stablecoins—but an ethics expert says a gap in the law allows this
By Camila Grigera NaónJune 15, 2026
17 hours ago

Most Popular

Current price of oil as of June 15, 2026
Personal Finance
Current price of oil as of June 15, 2026
By Joseph HostetlerJune 15, 2026
1 day ago
Current price of silver as of Monday, June 15, 2026
Personal Finance
Current price of silver as of Monday, June 15, 2026
By Joseph HostetlerJune 15, 2026
1 day ago
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
Big Tech
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
By Tristan BoveJune 15, 2026
23 hours ago
Team USA star Ricardo Pepi grew up in a trailer in El Paso—and his parents pawned their car title to fuel his soccer dream. Now, he’s in the World Cup
Success
Team USA star Ricardo Pepi grew up in a trailer in El Paso—and his parents pawned their car title to fuel his soccer dream. Now, he’s in the World Cup
By Preston ForeJune 15, 2026
1 day ago
Meet Gwynne Shotwell, the engineer-turned-COO who runs SpaceX in platform heels and is now worth over $2 billion
Startups & Venture
Meet Gwynne Shotwell, the engineer-turned-COO who runs SpaceX in platform heels and is now worth over $2 billion
By Eva RoytburgJune 15, 2026
1 day ago
Current price of gold as of June 15, 2026
Personal Finance
Current price of gold as of June 15, 2026
By Danny BakstJune 15, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.