The Debt

Extending Tax Cuts and Spending Hikes Would Raise Debt to Record Level by 2029: CBO

By Yuval Rosenberg

The Congressional Budget Office, in its long-term outlook released in June, projected that federal debt held by the public would increase sharply over the next 30 years, climbing from 78 percent of...
The Deficit Is Up 20% This Year

By The Fiscal Times Staff

The federal deficit was 20 percent larger in the first 10 months of fiscal year 2018 than it was during the same time last year, the Congressional Budget Office announced Wednesday. Revenues rose 1...
$Senator Bernie Sanders (I-VT) speaks during an event to introduce the "Medicare for All Act of 2017\$

Putting a Price Tag on the Democratic Socialist Agenda

By Michael Rainey

A number of policy proposals associated with the “democratic socialist” agenda of Bernie Sanders and Alexandria Ocasio-Cortez are gaining ground in the Democratic Party and will likely play a role in...
Here’s What’s at Stake in November: Tax Cuts, a Shutdown and Obamacare Repeal

By Michael Rainey

A lot can change over the next three months, but right now Democrats look likely to win control of the House of Representatives. They currently hold the lead in both generic ballot polls and the...
Buybacks Could Hit $1 Trillion This Year: Goldman Sachs

By The Fiscal Times Staff

Companies in the S&P 500 will likely authorize a record $1 trillion in stock buybacks in 2018, according to an estimate released by Goldman Sachs Friday. Buyback announcements have surged to $754...

Trump Says Tariff Revenue Will Help Pay Down National Debt. Here's the Real Math.

By Yuval Rosenberg

President Trump tweeted Sunday morning that his burgeoning trade wars with China and other countries will have a very specific benefit to the U.S.: bringing down the national debt. “Tariffs are...
Is Congress Headed for a Disaster Relief Showdown?

By Michael Rainey

Deficit hawks warn that soaring budget shortfalls and rising national debt will leave less fiscal space — or at least the perception of less fiscal space — for lawmakers to respond to the next...
Treasury Gears Up for a Borrowing Binge

By Michael Rainey

As the federal deficit rises, the U.S. Treasury plans to borrow $329 billion between July and the end of September, and another $440 billion in the last three months of the year. If those numbers...
Tax Cuts 2.0 Could Cost $600 Billion

By Michael Rainey

Republicans in the House released a brief outline of their proposed next round of tax cuts Tuesday. The two-page document calls for making the individual tax cuts and pass-through deductions, which...
A Warning About the Next Economic Crisis from Leaders Who Battled the Last One

By Yuval Rosenberg

Three top officials who helped steer the U.S. through the financial crisis a decade ago warned Tuesday that, while the banking system has clearly been strengthened, policymakers might find it harder...

Is Corporate Debt Pointing to a Recession?

By Michael Rainey

A measure of corporate debt levels is reaching worrisome levels, says Joseph Lavorgna, chief economist at the investment bank Natixis. In a note to clients Tuesday, Lavorgna said that the ratio of...
Democrats and the Deficit: The Intraparty Fight Ahead

By Yuval Rosenberg

Alexandra Ocasio-Cortez, the 28-year-old Democratic Socialist who stunned the political world and roiled the Democratic Party this month by defeating Rep. Joe Crowley (D-NY) in a primary, believes in...
Worrying About the Next Recession

By Yuval Rosenberg

When will the next recession hit? It’s been more than nine years since the Great Recession officially ended , and the U.S. economy is about a year away from passing the 1990s expansion to become the...
Another Problem with Larry Kudlow's Deficit Whopper

By Yuval Rosenberg

Larry Kudlow, director of President Trump’s National Economic Council, set off a wave of incredulous head-scratching on Friday by claiming in an interview with Fox Business Network that the federal...
Larry Kudlow, Trump’s Top Economic Adviser, Says the Deficit Is Falling. It Is Not.

By Yuval Rosenberg

Larry Kudlow, President Trump’s top economic adviser, said on the Fox Business Network Friday morning that the federal budget deficit is falling “rapidly.” In response to a Maria Bartiromo question...