Budget Battles
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Trump Pushes Johnson to Victory as Speaker
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Johnson Faces Battle for the Speaker's Gavel
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Has Trump Already Lost His Iron Grip on the GOP?
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House Votes to Dodge Shutdown, Ditching Trump Demand
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Trump-Approved Spending Plan Goes Down in Flames
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Trump Blows Up Johnson’s Bipartisan Spending Deal
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Republicans Fume Over ‘Dumpster Fire’ Funding Bill
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Congress Approves Bill to Boost Social Security for Public Sector Workers
By Michael RaineyIn a move that could boost benefits for about 2.4 million retirees, the Senate passed the Social Security Fairness Act this weekend, sending it to President Biden for his signature. Approved by the...
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Penn Economists Propose Reforms to Cut Debt Without Economic Damage
Economists at the Penn Wharton Budget Model have constructed a package of 13 major tax and spending reforms that they say can grow the U.S. economy while also reducing federal debt and enhancing the...
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Medicaid Enrollment Drops 7.5%, Expected to Fall Further
By Michael RaineyThe Medicaid rolls declined by 7.5% in fiscal year 2024, the nonpartisan policy research group KFF reported this week in its annual survey of state Medicaid directors. The decline is expected to...
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Trump Proposals Could Lead to a 33% Cut in Social Security Benefits
By Michael RaineySocial Security will be forced to cut benefits by an estimated 23% in 10 years if Congress fails to prop up the program’s trust funds before then, but a new analysis from a budget watchdog group...
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Social Security Benefits to Rise 2.5% in 2025
By The Fiscal Times StaffSocial Security recipients will receive a 2.5% cost of living adjustment in 2025, the Social Security Administration announced Thursday. It’s the smallest increase in four years, reflecting the...
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Trump Economic Plans Would Cost More Than $4 Trillion: Analysis
By Michael RaineyAn array of tax and spending proposals put forth by former President Donald Trump would raise the federal budget deficit by more than $4 trillion over the next 10 years, according to an analysis by...
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Trump’s Social Security Tax Plan Would Cost $1.5 Trillion: Analysis
By Michael RaineyFormer President Donald Trump suggested this week that he wants to repeal the income tax on Social Security benefits. “SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!” he posted on his social media...
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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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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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Sanders Pitches Biden on Social Security Rescue Plan
By Michael RaineySen. Bernie Sanders (I-VT) is trying to convince President Joe Biden to embrace a plan that would fully fund Social Security for more than seven decades, as well as raise benefits by $2,400 a year...
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Pence Wants to Put Social Security and Medicare Cuts Back on the Table
By Michael RaineyIn the wake of relentless criticism from both Democrats and Republicans, Sen. Rick Scott (R-FL) late last week revised his proposal to bring all government programs, including Social Security and...
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A New Twist in the GOP Feud Over Social Security Cuts
By Michael RaineyAs Democrats led by President Joe Biden continue to gleefully attack Republicans for proposals both new and old that would cut or otherwise undermine Social Security and Medicare, GOP leaders have...
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As Haley Announces Presidential Bid, Trump Attacks Her on Social Security and Medicare
Nikki Haley, the 51-year-old former governor of South Carolina and U.S. ambassador to the United Nations in the Trump administration, officially jumped into the 2024 presidential race Wednesday with...
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US on Pace to Add $19 Trillion to National Debt Over Next Decade: CBO
By Michael RaineyFederal finances are deteriorating more rapidly than expected, the Congressional Budget Office said Wednesday as it released its 10-year outlook for the federal budget and the U.S. economy. The 101-...