Budget Battles
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How Congress Cheats with Our Money — and How We Can Stop It
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April Is Financial Literacy Month. Someone Tell Congress.
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When the Budget Won’t Balance, Just Get Rid of the Budget Committee?
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With Recent Laws, Congress Has Added $540 Billion to the 2019 Deficit
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Why Trillion-Dollar Deficits Matter
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Paul Ryan's Fiscal Legacy: Lots of Red Ink
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Why Almost No One Is Happy About This Week's Balanced Budget Amendment Vote
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How Congress Cheats with Our Money — and How We Can Stop It
By Marc Goldwein and Zach MollerThe U.S. is on course to top its record debt levels set after World War II, and permanent trillion-dollar deficits — meaning, forever — are likely to return within two years . And unlike after World...
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April Is Financial Literacy Month. Someone Tell Congress.
By Joseph J. Minarik and Caroline L. FergusonFebruary is Black History Month, March is National Women’s Month, and April? Well, it’s Financial Literacy Month, of course! The U.S. government gave financial literacy its own month in 2003. April...
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Why All the Warnings About Unsustainable National Debt Could Be Wrong
By Michael RaineyInternational economists are warning about rising global debt levels and deficit hawks in Washington are increasingly worried about what they see as unsustainable debt levels in the U.S., but a new...
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The US Has an Exceptional Debt Outlook – and Not in a Good Way
By Michael RaineyThe International Money Fund’s latest global fiscal survey warns that in five years, the U.S. debt-to-GDP ratio will be higher than Italy’s, a nation not generally known for its exemplary fiscal...
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When the Budget Won’t Balance, Just Get Rid of the Budget Committee?
By Michael RaineyIt may sound like a joke — Erik Sherman of Forbes said it seemed like something “from The Onion or Andy Borowitz at the New Yorker, only with less humor and pith” — but Sen. Mike Enzi (R-WY), chair...
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With Recent Laws, Congress Has Added $540 Billion to the 2019 Deficit
Spending hikes and tax cuts passed since 2015 under the Trump and Obama administrations account for $540 billion of next year’s projected $981 billion budget deficit, or 55 percent, according to...
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Extending the Individual Tax Cuts Would Reduce Economic Growth: Penn Wharton Budget Model
By Michael RaineyMost of the individual tax cuts in the GOP tax overhaul that became law in December are scheduled to expire after 2025, but Republican lawmakers are expected to try to make them permanent well before...
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Why Trillion-Dollar Deficits Matter
The Congressional Budget Office confirmed this week that the deficit is on pace to surpass $1 trillion in 2020 and climb higher from there barring action by leaders in Washington, potentially...
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Paul Ryan's Fiscal Legacy: Lots of Red Ink
House Speaker Paul Ryan announced Wednesday that he won’t seek re-election this year and will retire at the end of his term in January, becoming the most prominent in a wave of Republican lawmakers...
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Yellen, Democratic Economists Say Fixing Debt Crisis Isn’t All About Entitlements
Late last month, a quintet of big-name Hoover Institution economists warned in a Washington Post op-ed that a coming “string of perpetually rising trillion-dollar-plus deficits” could soon lead to a...
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The Era of Permanent $1 Trillion Deficits Will Start in 2020, CBO Says
The Republican tax plan and increased government spending will provide a temporary boost to the economy but sharply increase the federal deficit, sending it above $1 trillion a year in 2020, two...
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Trump Discussed Rolling Back Part of $1.3 Trillion Spending Deal
By YLAN Q. MUI, CNBCPresident Donald Trump spoke with Republican leadership this week about the possibility of rolling back part of the $1.3 trillion government spending bill that he signed into law less than two weeks...
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Bond Traders Not Expecting a Big Spike in Treasury Yields
By Michael RaineyA Reuters poll of 75 bond strategists found that while most think Treasury yields are headed higher, the increases are expected to be relatively modest, despite the big jump in supply as the U.S...
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US Borrowing Nearly $300 Billion This Week
By Michael RaineyThe Treasury Department plans to sell a record $294 billion worth of bills and notes this week, according to Bloomberg . The tax cuts signed into law by President Trump are causing a decline in...
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Sarah Sanders Says 'Of Course' Trump Still Cares About the Deficit
The national debt has now grown by more than $1 trillion since President Trump took office, climbing from $19.947 trillion to $20.958 trillion . Asked about that increase in the debt and whether...
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