Budget Battles
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Trump's Legacy: $7.8 Trillion Rise in Debt
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Biden Unveils $1.9 Trillion ‘American Rescue Plan’
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Trump Impeached Again: What's Next?
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America’s Infrastructure Gap Will Hit $5.6 Trillion: Report
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Trump Impeachment Could Delay Biden Stimulus
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Biden Calls for Trillions More in Covid Relief
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Dems Pledge $2,000 Checks as Biden Agenda Gets a Boost
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Why Biden’s Ambitious Covid Relief Plan Could Get Cut in Half
By Michael Rainey and Yuval RosenbergPresident-elect Joe Biden’s plan to “rescue” the American economy proposes $1.9 trillion in federal spending to fund a national vaccine program, boost unemployment benefits, provide additional direct...
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Orszag, Rubin and Stiglitz Call for a New Fiscal Framework
The consensus on the dangers of rising debt has shifted dramatically over the last decade. Economists have been reexamining how best to spur recovery and encourage wider-spread prosperity as...
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Biden Unveils $1.9 Trillion ‘American Rescue Plan’
President-elect Joe Biden on Thursday unveiled an economic relief package that calls for $1.9 trillion in aid, including money for $1,400 direct payments to most Americans as well as $350 billion in...
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Unemployment Claims Surge Along With the Coronavirus
By Michael RaineyAbout 965,000 people filed initial jobless claims in state unemployment systems last week, the Department of Labor announced Thursday. The new filings far exceeded economists’ expectations,...
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Democrats Plan a Major End Run Around the GOP
By Michael RaineyYou’ll probably be hearing a lot about “budget reconciliation” in the coming weeks, as Democrats work to pass a substantial spending package in the early days of the Biden administration. The term...
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America’s Infrastructure Gap to Hit $5.6 Trillion by 2039: Report
The gap between America’s projected infrastructure investment needs and its likely spending on those needs is projected to top $2.6 trillion by 2029 and more than $5.6 trillion by 2039, according to...
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Trump Administration Hands Republicans a Big Win on Medicaid Funding
By Michael RaineyThe Trump administration delivered a long-sought victory to Republicans late last week by approving a request from Tennessee to receive Medicaid funding as a block grant. As part of a 10-year “...
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Trump Impeachment Could Delay Biden Stimulus
By Michael RaineyPresident-elect Joe Biden’s plan to pass a multi-trillion-dollar stimulus package in the early days of his administration could get caught up with the looming impeachment of President Trump. House...
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Paycheck Protection Program Restarts
The Paycheck Protection Program reopened on Monday with $284 billion in funding authorized under the coronavirus relief package passed last month and revamped rules meant to get forgivable loans to...
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Deficit Hits $572 Billion for First Three Months of Fiscal 2021: CBO
The federal budget deficit for the first quarter of fiscal year 2021 totaled $572 billion, up $215 billion from the same period a year earlier, the Congressional Budget Office estimated on Monday...
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Congress Set to Pass $900 Billion Covid Relief Deal and $1.4 Trillion Spending Package
By Yuval Rosenberg and Michael RaineyMore help, at long last, is on the way. After months of partisan gridlock and inaction — even as hundreds of thousands of Americans were dying due to Covid-19 and millions more were falling into...
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Covid Relief Talks Hit Another Snag
By Michael Rainey and Yuval RosenbergCongress is cutting it close as lawmakers scramble to avoid a government shutdown just after midnight. The House on Friday evening passed a two-day stopgap measure that would prevent government...
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Economy Sending More Distress Signals: Layoffs Jump, Personal Income Drops
By Michael RaineyThe resurgence of the coronavirus is weighing heavily on the labor market, with more than 1.3 million people making new unemployment claims last week, an unexpected increase of 63,000 from the week...
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Why the Stimulus Deal Isn't Done Yet
Congress is still scrambling to finalize another Covid relief deal, with negotiators haggling over elements of the legislation and billions in spending ahead of a Friday night deadline, when...
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Chart of the Day: CBO's Estimates for Interest Costs
By The Fiscal Times StaffHow much will the growing pile of national debt cost the federal government in the years ahead? According to a new analysis released by the Congressional Budget Office, the answer depends in large...