Budget Battles
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Republicans Block Bipartisan Border Bill a Second Time
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Biden Cancels Billions More in Student Loan Debt
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‘A Large and Costly Mistake’: Unions Slam Trump Tax Cuts
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Senate Tees Up Another Doomed Vote on Border Bill
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The 2025 Spending Fight Has Officially Begun — and It’s Going to Be Big
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Supreme Court Slaps Down Challenge to Consumer Watchdog
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Inflation Eases in April, Lifting Hopes for a Soft Landing
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Social Security, Medicare Get Modest Boost From Strong Economy
By Michael RaineySolid economic growth in the wake of the pandemic has strengthened some of the nation’s leading social safety net programs, as robust employment increases the flow of payments into the Social...
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BlackRock CEO Warns of a Retirement Crisis
Larry Fink, the billionaire chairman and CEO of investing giant BlackRock, warns in a newly published annual letter to shareholders that it’s time to rethink retirement savings in aging countries...
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House Republican Caucus Calls for Raising the Social Security Retirement Age
By Michael RaineyThe Republican Study Committee, the largest conservative caucus in the House, released on Wednesday a 2025 budget proposal that would slash healthcare spending, raise the Social Security retirement...
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Biden Proposes a $7.3 Trillion Budget for 2025
President Biden on Monday proposed a $7.3 trillion budget for fiscal year 2025 that seeks to lower the costs of prescription drugs, child care and housing while also cutting the deficit by $3...
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House Budget Committee Approves Bill to Create Bipartisan Fiscal Commission
The House Budget Committee on Thursday approved a landmark bill to create a bipartisan fiscal commission that would make recommendations on how to address the rising national debt. The commission has...
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Romney and Manchin Call for Commission to Stabilize US Debt
By Michael RaineySens. Mitt Romney of Utah and Joe Manchin of West Virginia introduced a bill Thursday that would create a commission tasked with stabilizing the national debt. Warning that the nation’s finances are...
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US Retirement System Gets a C+
By Michael RaineyWith a mix of mandatory public and private pension programs, the Netherlands has the world’s best retirement system, according to a new ranking from the consulting firm Mercer. The European nation...
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Rising Income Inequality Hurts Social Security, Expert Says
By Michael RaineySocial Security faces a crisis in 2034, when its main trust fund is projected to become insolvent, potentially resulting in significant cuts in benefits. Simple demographics play a major role in the...
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GOP Candidates Clash Over Government Spending, Entitlements
Although the opening exchanges of last night’s Republican presidential primary debate aren’t making many highlight reels and recaps, they showed the candidates trying to establish their fiscally...
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Social Security Benefits Could Be Cut by $17,400 a Year When Trust Fund Runs Dry
By Michael RaineyA typical retired couple could face a loss of $17,400 in their annual Social Security benefits in 2033, when the retirement program’s main trust fund is projected to run dry. That estimate comes from...
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Biden and GOP Tangle Over Social Security and Medicare
By Michael RaineyRabble-rousing Republicans keep giving President Joe Biden wins. In a particularly tumultuous moment in his State of the Union address Tuesday night, Biden accused a handful of Republicans of...
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Round 1 in the Debt Limit Fight
The slowly unfolding fight over the debt limit and federal spending will inch forward on Wednesday as President Joe Biden and House Speaker Kevin McCarthy meet, their first such sit-down since...
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Biden Warns GOP Agenda Would Bring Chaos
As Republicans and Democrats gird for a prolonged fight over the debt ceiling, President Biden on Thursday attacked the GOP for ideas that he said could result in economic chaos. At an event held in...
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McCarthy Agrees Not to Cut Social Security, Medicare in Debt Talks, Manchin Says
By Michael RaineyDemocratic Sen. Joe Manchin, the West Virginia centrist, played a key role in an evenly divided Senate over the last two years. Democrats may have gained a seat in the Senate, but Manchin appears to...
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McConnell Set to Make History After Fending Off a Revolt
Sen. Mitch McConnell (R-KY) was reelected by his caucus as Senate Republican leader, fending off a challenge from Sen. Rick Scott of Florida — the first such challenge McConnell has faced in 15 years...