Budget Battles
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What Biden’s Pick of Yellen Means for the Economy and Stimulus
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Trump Threatens Veto of Defense Bill
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Virus Surge Could Wallop the Economy Again
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Mnuchin Pulls Plug on Emergency Covid-Relief Programs
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250,000 Dead. Where Are Trump, Pelosi and McConnell?
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Top CEOs Call for Covid Relief, Mask Mandate
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Biden Warns 'More People May Die' if Trump Refuses to Coordinate
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What Biden’s Pick of Yellen for Treasury Means for the Economy and Stimulus
Janet Yellen has had a long and distinguished career as an economist, from the halls of academia to the White House to the Federal Reserve. Her next job, as Neil Irwin suggests at The Upshot , may be...
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Trump Threatens to Veto Defense Bill
By Michael RaineyDespite reports last week that the White House was looking to make a deal on the issue, President Donald Trump is threatening to veto the National Defense Authorization Act if it includes a provision...
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Most Americans Say the Country Needs More Covid Aid
By Michael RaineyA substantial majority of Americans think more Covid-19 aid from the federal government is needed, according to new poll data from Pew Research. In a survey of U.S. adults conducted from November 12...
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Biden Backs Pelosi on Massive Stimulus Bill as Former Treasury Heads Call for More Aid
By Michael RaineyJoe Biden is backing House Democrats in their effort to negotiate a multi-trillion-dollar coronavirus relief bill, according to a Biden representative Monday. “The President-elect fully supports the...
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Mnuchin Defends Decision to End Emergency Lending Programs
By Michael RaineyTreasury Secretary Steven Mnuchin on Friday defended his decision to terminate more than $450 billion worth of emergency lending programs that extended credit to businesses and local governments amid...
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Virus Surge Could Wallop the Economy Again
By Michael RaineyAnalysts at JPMorgan Chase are predicting an economic contraction in the first quarter of 2021, driven by the fall surge of Covid-19 and new restrictions on businesses imposed by state and local...
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Op-Ed of the Day: The Case for Bailing Out Cities and States
Richard Ravitch helped save New York City from bankruptcy in the 1970s. He says there’s plenty of reason to now bail out cities and states facing financial crises as a result of the coronavirus...
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Mnuchin Asks Fed to Return $455 Billion in Unspent Covid-Relief Funds
Treasury Secretary Steven Mnuchin on Thursday asked the Federal Reserve to allow a number of its emergency lending programs to expire as scheduled at the end of the year and return hundreds of...
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White House Seeks Deal on Confederate Base Names: Report
By Michael RaineyLawmakers are hoping to pass the annual defense authorization bill before the end of the year, but a provision that requires the Pentagon to remove the names of Confederate leaders from military...
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250,000 Dead. Where Are Trump and Congress?
President Trump had no public events scheduled for Wednesday. It was the same on Tuesday, when The Washington Post’s Philip Bump noted that the president’s public calendar has been empty for 10 of...
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Court Rejects Trump Effort to Cut Food Stamps
By The Fiscal Times StaffA federal judge on Sunday rejected a Trump administration plan to cut $5.5 billion from the Supplemental Nutrition Assistance Program over the next five years. The proposed rule change would allow...
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Stimulus Deal or No Deal? Pelosi Sets Tuesday Deadline
By Michael RaineyIt may not have a made-for-TV theme song, but Nancy Pelosi’s ultimatum does pack some dramatic punch: 48 hours or we’re done. House Speaker Pelosi (D-CA) said Sunday that a deal must be reached...
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2021 Stimulus Size Hinges on Senate More Than President: Goldman Sachs
The election contest between President Trump and former vice president Joe Biden has been called the most consequential of our lifetime — and more voters say the race matters to them than in decades...
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US Deficit Soars to $3.1 Trillion
By Michael RaineyThe federal budget deficit topped $3.1 trillion in the 2020 fiscal year, the U.S. Treasury announced Friday, marking the largest annual deficit in U.S. history. As a share of the economy, the deficit...
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Pelosi Cites Progress, but Warns of Poison Pills in Stimulus Deal
House Speaker Nancy Pelosi (D-CA) and Treasury Secretary Steven Mnuchin said after a nearly 90-minute negotiating session Thursday that they had made some progress toward a coronavirus relief package...