Budget Battles
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Yellen Tells Congress to ‘Act Big’ to Rescue the Economy
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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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Yellen Tells Congress It’s Time to ‘Act Big’ to Rescue the Economy
Incoming Treasury Secretary Janet Yellen on Tuesday urged Congress to “act big” and deliver more relief to the pandemic-ravaged economy. As she sought to build support for the $1.9 trillion rescue...
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Poll of the Day: About Those $600 Checks
By Michael RaineyMost Americans say the coronavirus stimulus money currently being disbursed by the U.S. Treasury won’t last more than a few weeks, according to a new survey from the personal finance website Bankrate...
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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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The Night Before Christmas 2020
'Twas the night before Christmas, and up on the Hill Congress keeps fighting over its stimulus bill. Pelosi pressed Republicans to see if they dare Block the bigger checks Trump said are fair. Sure...
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Trump Vetoes $741 Billion Defense Bill
By Michael RaineyPresident Trump carried through on his threat to veto the $741 billion National Defense Authorization Act Wednesday, setting up what is expected to be the first veto override during his...
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Trump Sows Chaos With New Demands on Covid Relief Bill
President Trump on Tuesday night abruptly threw the $900 billion Covid relief package approved by Congress into chaos, calling the bill that his administration helped craft a “disgrace” and demanding...
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Congress Plans Post-Christmas Session to Try to Override Trump Veto
By Michael RaineyPresident Trump has announced that he plans to veto the $741 billion National Defense Authorization Act, which Congress passed with veto-proof majorities earlier this month. The bill, which has...
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Airlines Get $15 Billion in Aid — or $500,000 for Each Rehired Worker
By Michael RaineyThe new Covid-19 relief package will give U.S. airlines $15 billion, with the money intended to be used to bring about 32,000 workers back onto payrolls. But the airline business is in terrible shape...