Budget Battles
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US Economy Stronger Than Previously Thought
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Harris Slams Trump’s Economic Plans, Pledges to Grow the Middle Class
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Trump’s Tax Cut Wish List Tops $11 Trillion
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Harris Prepares a New Economic Pitch
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Republicans Defy Trump on Shutdown Threat
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Speaker Johnson Scrambles for Plan B to Avoid a Shutdown
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House Torpedoes Johnson Plan to Avert a Shutdown
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Moody’s Warns Growing Deficits Could Take a Toll on US Credit Rating
By Michael RaineyPolitical polarization could make it more difficult for the next administration in Washington to address the country’s deteriorating fiscal situation, and that may have negative implications for the...
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Deficit Hits $1.5 Trillion in First 10 Months of Fiscal Year: CBO
By Michael RaineyThe federal budget deficit was $1.5 trillion in the first 10 months of the 2024 fiscal year, according to an initial estimate released by the Congressional Budget Office released Thursday. The...
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7 Proposals to Rein In the Debt
By Michael RaineyAlthough it may be hard to imagine now, at some point in the not-too-distant future the 2024 election will be over and a new government will take over in Washington. No matter who is in power, the...
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Meet the New Trump, Same as the Old Trump
Football fans likely remember an angry postgame press conference rant by Arizona Cardinals Head Coach Dennis Green in 2006. His team had just blown a 20-point halftime lead to the Chicago Bears,...
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Trump’s Republican Platform Drops Any Mention of National Debt
Ahead of the Republican National Convention in Milwaukee next week, the GOP on Monday published its 2024 platform — a 16-page outline of the party’s policy positions for a second Trump term. The...
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IMF Warns of ‘Pressing Need’ to Address U.S. Debt
The International Monetary Fund said in a report Thursday that the U.S. economy “has turned in a remarkable performance over the past few years,” but added that there is now “a pressing need to...
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A 30-Year Plan to Stabilize the National Debt
By Michael RaineyOn the heels of new projections from the Congressional Budget Office showing that the federal budget deficit and national debt will continue to rise for years to come, with the debt reaching record...
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Trump Added About Twice as Much to National Debt as Biden: Report
Whether Joe Biden or Donald Trump wins the White House in November, the next presidential term is likely to see the national debt reach a record size relative to the U.S. economy. A new analysis by...
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CBO Raises Its 2024 Deficit Forecast 27% to Nearly $2 Trillion
By Michael RaineyThe federal budget deficit will reach an estimated $1.9 trillion in fiscal year 2024, according to an updated outlook released by the Congressional Budget Office Tuesday. The new projection...
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IRS Takes Aim at a $50 Billion Loophole for Wealthy Taxpayers
By Michael RaineyThe IRS announced Monday that it plans to eliminate a loophole used by large, complex partnerships to avoid taxes – a move that could raise more than $50 billion over the next decade. The tax agency...
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Moody’s Warns on Shutdown Risk
By Michael RaineyMoody’s Investors Service warned Monday that a government shutdown would be seen negatively by the credit rating agency. Of the three major ratings agencies, Moody’s is the only one that has...
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U.S. National Debt Tops $33 Trillion
By Michael RaineyThe national debt hit a new milestone Monday, topping $33 trillion for the first time, according to data published by the Treasury Department. The record amount reflects the size of the gross...
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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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Inflation, Budget and Debt High on GOP Voters’ List of Priorities: Poll
As eight Republican candidates not named Donald Trump aim to use tonight’s initial 2024 presidential primary debate to build some momentum in the race for the GOP nomination, policy matters may take...
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A Battle Over Spending? White House Says Bring It On
By Michael RaineyAlthough Republicans have sometimes dominated the debate over efforts to reduce deficits and the debt, the Biden administration thinks it may have gained the upper hand on the issue – and looks...