Budget Battles
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Congressional Panel Considers Budget Reforms
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Trump Wants to Cut Off Hurricane Maria Relief Funds for Puerto Rico: Report
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Fiscal Mayhem Ahead in 2019 — and 5 Other Takes on the Election Results
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3 Areas Where Trump and Democrats Can Maybe, Possibly Work Together
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Kansas or California as a Model for America’s Future Growth?
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McConnell: Entitlement Cuts Probably Won’t Happen Under Trump
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Republicans Ignore the Obvious Effect of Their Tax Cuts
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Amazing Facts and Figures from the Pentagon’s Failed Audit
By Michael RaineyTo the surprise of no one, the Department of Defense announced this week that it has failed its first-ever comprehensive audit. Rep. Mike Turner (R-OH), the outgoing chair of the House Subcommittee...
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Congressional Panel Considers Budget Reforms
A bipartisan congressional panel tasked with revamping the federal budgeting process on Thursday marked up its proposed legislation ahead of a November 30 deadline. The panel, created as part of...
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Pentagon Fails Its First-Ever Audit
The Defense Department has failed its first-ever comprehensive audit, Deputy Secretary of Defense Patrick Shanahan said Thursday, according to multiple reports. “We failed the audit, but we never...
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The Economy’s Coming Wile E. Coyote Moment
By Michael RaineyMost economists think that the “sugar high” in the economy produced by simultaneous tax cuts and federal spending increases this year will fizzle at some in the next few quarters, at which point GDP...
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States Spent $2 Trillion in 2018. Here’s Where It Went.
The 50 states spent more than $2 trillion for the first time in fiscal 2018, according to a report released Thursday by the National Association of State Budget Officers. At the same time, as the...
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Securing America’s Future Requires Political Courage Now
By Russ LatinoMy son is five. He plays with Legos and digs old-school video games. My daughter is three. She likes dolls and is prone to uncontrollable giggling with no apparent provocation. Neither have much...
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US Military Faces a Crisis and Needs More Money, Report to Congress Warns
America’s military superiority “has eroded to a dangerous degree,” leaving the national security “at greater risk than at any time in decades,” a bipartisan commission warned Wednesday in a...
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The Cost of Post-9/11 Wars Nears $6 Trillion
The total cost of post-9/11 wars will approach $6 trillion by the end of fiscal 2019, according to an annual report published Wednesday by the Watson Institute for International and Public Affairs at...
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Deficit Hit $100 Billion in October
By The Fiscal Times StaffThe U.S. government spent $353 billion in October while revenues came in at $253 billion, producing a deficit of $100 billion. Receipts were 7 percent higher than a year ago, but spending was up 18...
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The Pentagon's $21 Billion Rust Problem
By The Fiscal Times Staff“Rust costs the Pentagon more money annually than many of its most expensive weapons systems—up to $21 billion per year, according to a Defense Department-commissioned audit released in March,” Next...
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Trump Wants to Cut Off Hurricane Maria Relief Funds for Puerto Rico: Report
By Michael RaineyPresident Donald Trump reportedly wants to stop providing federal relief funds to Puerto Rico for recovery efforts related to Hurricane Maria. Axios’ Jonathan Swan reports that Trump is convinced – “...
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Chart of the Day: How Taxes and Transfers Affect US Incomes
By Michael RaineyA new analysis of the distribution of household income by the Congressional Budget Office shows how taxes and means-tested transfers such as Medicaid and food stamps affect US incomes. “The combined...
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Improving Odds for the Farm Bill
By The Fiscal Times StaffThe Farm Bill has been held up by a dispute over new work requirements for the Supplemental Nutrition Assistance Program, or SNAP, among other issues. House Republicans passed a bill that includes...
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Build That Wall? The Next Budget Battle Ahead
By Michael RaineyCongress reconvenes for a lame-duck session next week and funding for President Trump’s border wall with Mexico will be front and center as lawmakers turn to unsettled budget items for the current...
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Fiscal Mayhem Ahead in 2019 — and 5 Other Takes on the Election Results
By The Fiscal Times StaffPrepare for budget mayhem: “The budget bottom line is simple: Senate Republicans will have a very different fiscal agenda than House Democrats, and both houses’ tax and spending to-do lists will be...