Budget Battles
-
Sniping Already Starting Over Baltimore Bridge Reconstruction Costs
-
New Poll Finds Liberals and Conservatives Agree: Tax the Super-Rich
-
Biden Vows US Will Pay to Rebuild Collapsed Baltimore Bridge
-
How Congress Wasted ‘Months of Precious Time’ on the 2024 Spending Bills
-
Senate Struggles to Avert Shutdown, Speaker Johnson Faces Revolt
-
Long-Delayed $1.2 Trillion Spending Package Zooms to the Finish Line
-
Debt Will Hit Record High This Decade, CBO Warns
-
BlackRock CEO Warns of a Retirement Crisis
Larry Fink, the billionaire chairman and CEO of investing giant BlackRock, warns in a newly published annual letter to shareholders that it’s time to rethink retirement savings in aging countries...
-
CBO Projects Major Run-Up in National Debt
By Michael RaineyThe latest long-term outlook from the Congressional Budget Office shows a big increase in the national debt over the next 30 years, with publicly held debt rising to 166% of gross domestic product by...
-
Biden Proposes a $7.3 Trillion Budget for 2025
President Biden on Monday proposed a $7.3 trillion budget for fiscal year 2025 that seeks to lower the costs of prescription drugs, child care and housing while also cutting the deficit by $3...
-
Deficits to Soar Over $2 Trillion a Year, CBO Says
By Michael RaineyThe federal government’s $1.6 trillion annual budget deficit will grow significantly larger over the next 10 years, according to the latest outlook from the Congressional Budget Office, released...
-
Powell Warns of ‘Unsustainable’ Fiscal Path, Talks Rate Cuts
By Michael RaineyIn an interview that aired Sunday evening, Federal Reserve Chairman Jerome Powell told CBS’s “60 Minutes” that “almost all” of the officials involved in setting the central bank’s benchmark interest...
-
House Budget Committee Approves Bill to Create Bipartisan Fiscal Commission
The House Budget Committee on Thursday approved a landmark bill to create a bipartisan fiscal commission that would make recommendations on how to address the rising national debt. The commission has...
-
Tax Cuts or Spending Increases? What’s Driven the Rise in Debt
Does the U.S. government have a spending problem or a revenue problem? Republicans insist that rising deficits and debt and are caused by the former, while Democrats have argued that repeated tax...
-
It’s the Economy, Stupid? Top U.S. Priorities in 2024
By Michael RaineyAmericans are becoming more concerned about immigration and U.S. involvement overseas, but the economy remains the number one issue overall for voters as we head into the 2024 election year,...
-
US Hits $34 Trillion in Debt
By Michael RaineyThe gross U.S. national debt surpassed $34 trillion last Friday, according to the Treasury Department’s daily debt tracker . The debt grew quickly in 2023, topping $32 trillion in June and $33...
-
House Budget Committee Examines Pros and Cons of a Bipartisan Fiscal Commission
The House Budget Committee held a hearing Tuesday to discuss and debate the pros and cons of several proposals to create a bipartisan fiscal commission to address the national debt and federal...
-
Ahead of Meeting With Biden, McCarthy Says Debt Limit Negotiators Still ‘Far Apart’
President Joe Biden, House Speaker Kevin McCarthy and the three other top congressional leaders are set to meet again Tuesday as they try to work out a deal to raise the debt limit and avoid an...
-
CBO Warns of ‘Significant’ Default Risk in June
By Michael RaineyThere is a significant risk that the U.S. could run out of cash in just a few weeks, the Congressional Budget Office warned Friday – and there may not be any clarity on the outlook until the default...
-
What’s On the Table in Debt Limit Talks
White House and congressional staffers continue to discuss a potential deal to raise the debt ceiling, and the parameters of a possible deal are reportedly beginning to emerge, raising glimmers of...
-
Trump Urges Republicans to ‘Do a Default’
The Donald Trump Show was back on TV last night as CNN hosted a controversial and at times testy New Hampshire town hall event with the former president, who is also the current frontrunner in the...
-
Default Could Send Housing Market Into ‘Deep Freeze’: Zillow
By Michael RaineyThe interest rate on a standard 30-year mortgage would jump as high as 8.4% if the U.S. defaults on its debts this summer, raising housing costs for new buyers by 22%, according to a new analysis by...