Budget Battles
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Trump Promises More Bailout Cash for Farmers
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Elizabeth Warren Won the Debate. Will It Matter?
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How Medicare for All Is Tearing Democrats Apart
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Mike Bloomberg's Plan to Boost Social Security
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Court Strikes Down Trump Admin’s Medicaid Work Rules
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Pete Buttigieg’s Deficit Talk Scares the Left
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Deficit Soars 25% Over First Four Months of Fiscal 2020
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Why Pete Buttigieg’s Deficit Talk Scares the Left
Pete Buttigieg has sparked a strong backlash from the left by suggesting that Democrats should take a firm stand on the importance of the national debt. For months now, Buttigieg has urged Democrats...
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Deficit Soars 25% Over First Four Months of Fiscal 2020
The federal budget deficit over the first four months of fiscal year 2020 totaled $389 billion, up more than 25% from the same period last year, according to data released Wednesday by the Treasury...
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In Search of the ‘Disappearing Corporate Income Tax’
By Michael RaineyLawmakers clashed on Tuesday over the performance of the 2017 Tax Cuts and Jobs Act in a House Ways and Means Committee hearing titled “The Disappearing Corporate Income Tax,” with Democrats arguing...
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Cut Red Tape to Help Rein in Federal Deficits
By James Broughel and Jack SalmonThe Budget and Economic Outlook report published late last month by the Congressional Budget Office (CBO) should set off alarm bells, as it predicts trillion-dollar annual deficits for the...
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Iraq War Has Cost Nearly $2 Trillion So Far: Analysis
By Michael RaineyThe bill for the 16-year war in Iraq comes to about $1.92 trillion through the end of 2019, says Neta C. Crawford, a political scientist who helps run the Cost of Wars project at Brown University...
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Budget Deficit to Top $1 Trillion a Year for Next Decade: CBO
The U.S. budget deficit is expected to top $1 trillion in fiscal year 2020 and remain above that level indefinitely, lifting the national debt over the next decade to its highest level since World...
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The Next Big Fiscal Question: How to Raise More Revenue?
By Michael RaineyAn all-star roster of fiscal experts gathered at the Brookings Institution Tuesday to debate the future of American tax policy. The initial discussion featured former U.S. Treasury secretaries...
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One Democrat's Health Plan Will Save the Government Money: Report
What would the health care proposals of the Democratic presidential contenders mean for the federal budget? The Committee for a Responsible Federal Budget is out with an in-depth analysis of the...
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US Will Issue 20-Year Bonds as It Seeks to Finance Rising Debt
The Treasury Department said late Thursday that it will begin issuing 20-year bonds in the first half of this year as it seeks to fund a deficit expected to top $1 trillion a year for the foreseeable...
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Why A Growing Number of Economists Say the Government Needs to Spend More
By Michael RaineyWhile some Democratic candidates embraced the importance of addressing the debt and deficit in Tuesday’s debate, the topic seems to lack the urgency it once had. One reason, says Heather Long of The...
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Cost of Wars Since 9/11: $6.4 Trillion and Rising
By Michael RaineyThe total cost of the wars fought since 9/11 is approaching $6.4 trillion, according to an annual report published Wednesday by the Watson Institute for International and Public Affairs at Brown...
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National Debt Hits $23 Trillion
By Michael RaineyTotal federal debt has surpassed $23 trillion for the first time, according to data released by the Treasury Department Friday. Of that amount, $17 trillion is debt held by the public, which is...
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Two Takes on Republican Debt Hypocrisy
The federal deficit for fiscal 2019 was nearly $1 trillion, and the national debt is going to hit $23 trillion within a matter of days. President Trump once said he would eliminate the national debt...
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The Budget Outlook Isn’t Good — but It Has ‘Improved Substantially Since 2010’: Report
The national debt is now approaching $23 trillion, up nearly $9 trillion from the end of 2010, and the debt held by the public now stands at nearly $17 trillion, up about $7.5 trillion from since the...
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2019 Deficit Was Just Under $1 Trillion, Highest in 7 Years: CBO
The federal budget deficit for fiscal year 2019 grew to $984 billion, or 4.7% of GDP, the highest since 2012, the Congressional Budget Office estimated on Monday. The total for 2019 is 26% higher...