Budget Battles
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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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The $844 Billion Mystery in Trump’s Budget
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Trump’s $4.8 Trillion Fiscal Fantasy
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Trump’s Company Charged Secret Service Hefty Rates
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Is the Trump Administration Gutting Medicaid?
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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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Three Fiscal Takeaways from the Democratic Presidential Debate
The Iowa caucuses are less than three weeks away and the top four Democratic presidential contenders are tightly bunched in state polling, so the stakes were high at Tuesday night’s primary debate,...
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First-Quarter Deficit Grew by 12%, CBO Projects
The federal deficit for the first three months of fiscal year 2020 grew by $39 billion, or 12%, the Congressional Budget Office estimated on Wednesday. The deficit for October through December...
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Former Fed Official Calls for US to Issue More Long-Term Debt
In a column for Bloomberg Opinion, former Minneapolis Fed president Narayana Kocherlakota poses five big macroeconomic questions he sees for 2020 and beyond. Among them is how governments can take...
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2020 Preview: The Economic and Fiscal Picture in 10 Charts
The economy is humming along, having grown at an average inflation-adjusted annual rate of just over 2% over the last four quarters. But it is projected to have grown more slowly this year than the 2...
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How the GOP Gave In to Trump on Government Spending
There’s no doubt that it’s President Trump’s party now. Wednesday’s impeachment vote was just the latest indication that Republicans have lined up squarely behind the president, but this week offered...