Budget Battles
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Biden Unveils ‘Wartime’ Covid Response Plan
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Biden Signs 17 Executive Actions on Day 1
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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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The Next Steps for Biden’s Stimulus Plan
The new administration and new Congress in Washington are quickly running into the same old debates about Covid relief. President Joe Biden has called for a $1.9 trillion pandemic aid package, but...
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Biden Unveils ‘Wartime’ Covid Response Plan
By Michael RaineyIn his first full day in office, President Joe Biden rolled out a comprehensive plan to address the Covid-19 pandemic, releasing a 200-page document outlining his strategy while signing executive...
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Biden Signs 17 Executive Actions on Day 1, With Promise of More to Come
President Biden signed a flurry of executive orders just hours after taking the oath of office on Wednesday, hastening to enact his agenda to address the coronavirus pandemic and to reverse Trump...
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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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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...