Budget Battles
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Marjorie Taylor Greene Fires Another Warning Shot at Johnson
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Trump Promises Billionaires: I'll Keep Your Taxes Low
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Freedom Caucus Says No Baltimore Aid Unless ...
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Johnson Gets Squeezed From All Sides on Ukraine Aid
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Marjorie Taylor Greene Warns Johnson on Ukraine Aid
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A Big Win for the Anti-Tax Movement
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Johnson Outlines Risky Plan for More Ukraine Aid
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Debt Danger Ahead Even Greater Than CBO Sees: Analysis
The team at Bloomberg Economics is warning that federal debt is set to grow even higher as a share of the economy than the most recent projections from the Congressional Budget Office, which see the...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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,...
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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...
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Biden Touts Passage of Debt Limit Bill: 'Crisis Averted'
In an address to the nation on Friday, President Joe Biden celebrated the passage of the bipartisan bill to raise the debt limit. “Crisis averted,” he said. In his first speech from the Oval Office...
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Senate Scrambles to Get to a Final Vote on Debt Limit Deal
The path to raising the debt limit is taking a few late twists and turns. After the House on Wednesday night easily cleared the bill negotiated by House Speaker Kevin McCarthy and President Joe Biden...
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Debt Limit Deal May Save a Lot Less Money Than McCarthy Claims
The debt limit deal cut by President Joe Biden and House Speaker Kevin McCarthy would reduce the federal budget deficit by about $70 billion in fiscal year 2024 and by some $1.5 trillion from 2023...
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Debt Limit Deal Set to Pass Its First Test Despite GOP Revolt
The debt limit deal struck by President Joe Biden and Speaker Kevin McCarthy appears set to survive its first legislative test on Tuesday evening, clearing a procedural hurdle despite a growing...
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What’s in the Fiscal Responsibility Act of 2023
By Michael RaineyHere are some of the key elements of the budget and debt-ceiling agreement reached between the Biden administration and Republicans in the House: Debt limit suspended until January 1, 2025: The...