Fiscal Cliff

Experts Warn of a Coming Fiscal Crisis as Trump Prepares to Take Charge

By Eric Pianin

With the Republicans’ new national agenda in a state of flux just a month before President-elect Donald Trump takes the oath of office, some budget and tax analysts are warning of a dimming fiscal...
Both Trump and Clinton Would Drive the Federal Budget off a Cliff

By Rob Garver

A new analysis of the major party candidates’ tax and spending plans by the Committee for a Responsible Federal Budget shows that Republican Donald Trump and Hillary Clinton are both advocating...
Trump Policy Advisor Promises an Astounding $7 Trillion Surplus

By Rob Garver

Donald Trump sent Sam Clovis, who identifies himself as Trump’s chief policy advisor and the national co-chair of his presidential campaign, to Washington on Wednesday to talk to an audience of...
Two Year Budget Deal Passes in the House

By Kelsey Snell, The Washington Post

Congress on Wednesday moved a step closer to clearing a bipartisan budget deal that would boost spending for domestic and defense programs over two years while suspending the debt limit into 2017...
Four Political Issues That Could Tank the Markets

By Jeff Cox, CNBC

Donald Trump's raucous presidential campaign won't be the only thing lighting the political fires this fall. A handful of significant deadlines and policy decisions loom for Washington and Wall...

Washington Inches Toward Another Fiscal Cliff

By Eric Pianin

After a long day of partisan finger pointing over the Amtrak train disaster, bickering over the defense budget, and worrying that the government is short-changing vital highway and infrastructure...
Obama’s Spending Spree Could Push Long-Term Deficit over $1 Trillion

By Matthew Sabas, The Fiscal Times

The decrease in the federal budget deficit has been touted as an accomplishment by many—most recently by President Obama during his State of the Union Address—but America’s debt situation is far from...
Will the Dow Cross 18,000 Threshold in the Week Ahead?

By Patti Domm, CNBC

Traders will be searching for any signs the economy and job market are really kicking into higher gear, as Friday's jobs report suggests. November saw the strongest employment gains in 35 months, and...
Lame-Duck Action Could Add $1.5T to Long-Term Debt

By Eric Pianin

Largely under the radar screen, lawmakers are toying with ideas that could add as much as $1.5 trillion to the national debt in the coming decade. Washington is transfixed on President Obama’s new...
$1.5B Over Budget, 10 Years Late: DHS HQ May Be Cut Off

By Jerry Markon, The Washington Post

The Department of Homeland Security’s long-delayed new headquarters is running into trouble in Congress again, with Republican lawmakers seeking to end funding for the troubled project and Democrats...

House Goes Senate One Better with Pork Laden Sandy Bill

By Eric Pianin

House Republicans criticized Senate Democrats for filling the fiscal cliff deal with pet projects and pork barrel spending, but next week the House will vote on its version of $50.6 billion in...
What Does a Trillion Really Look Like?

By David Cay Johnston, Columbia-Journalism-Review

Throughout the weeks of intense coverage over the scheduled end of the Bush income tax cuts and the Obama payroll tax cut, reporters routinely cited dollar estimates in the millions, billions, and...
Jack Lew, GOP Chief Tormentor, as Treasury Secretary

By Eric Pianin and Josh Boak

President Obama has chosen Jacob (Jack) Lew, a strong ally of liberal Democrats whose style has aggravated congressional Republicans, to succeed outgoing Treasury Secretary Timothy F. Geithner. The...
Cliff Deal May Have Set Back Tax Reform for Good

By Josh Boak, The Fiscal Times

President Obama and congressional Republicans are both hyping the chances for tax reform this year, but several signs suggest it’s already time to craft an obituary for this perennial initiative...
Deductions that Reward the Worst Managed States

By Liz Peek

Why not do away with the deduction for state and local taxes? This loophole cost the country $46.5 billion in lost revenue in fiscal 2011, and essentially rewards the fiscal mismanagement of high-tax...

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