Budget Battles
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Border Battle Pushes Congress Toward a Shutdown
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Biden to Congress: Pass the Foreign Aid Bill ASAP
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Republicans Eye Frozen Russian Assets to Fund Ukraine
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Shutdown Threat Rises Again as GOP Demands Border Changes
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House Dems Try to Force a Vote on Ukraine Aid
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Biden Proposes a $7.3 Trillion Budget for 2025
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Senate Averts Midnight Shutdown, but Not Without Drama
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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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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...
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Moody’s Sends a Warning on US Debt
By Michael RaineyMoody’s Investors Service on Friday changed its outlook for the U.S. credit rating from “stable” to “negative,” citing both the rapidly expanding national debt during a time of high interest rates...
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Romney and Manchin Call for Commission to Stabilize US Debt
By Michael RaineySens. Mitt Romney of Utah and Joe Manchin of West Virginia introduced a bill Thursday that would create a commission tasked with stabilizing the national debt. Warning that the nation’s finances are...
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Moody’s Warns on Shutdown Risk
By Michael RaineyMoody’s Investors Service warned Monday that a government shutdown would be seen negatively by the credit rating agency. Of the three major ratings agencies, Moody’s is the only one that has...
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U.S. National Debt Tops $33 Trillion
By Michael RaineyThe national debt hit a new milestone Monday, topping $33 trillion for the first time, according to data published by the Treasury Department. The record amount reflects the size of the gross...
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GOP Candidates Clash Over Government Spending, Entitlements
Although the opening exchanges of last night’s Republican presidential primary debate aren’t making many highlight reels and recaps, they showed the candidates trying to establish their fiscally...
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Inflation, Budget and Debt High on GOP Voters’ List of Priorities: Poll
As eight Republican candidates not named Donald Trump aim to use tonight’s initial 2024 presidential primary debate to build some momentum in the race for the GOP nomination, policy matters may take...
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A Battle Over Spending? White House Says Bring It On
By Michael RaineyAlthough Republicans have sometimes dominated the debate over efforts to reduce deficits and the debt, the Biden administration thinks it may have gained the upper hand on the issue – and looks...