Budget Battles
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Deficit Plunging, but Will Soar Again Soon: CBO
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Dems Eye New Deadline for Deal With Manchin
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Biden Considers Cutting Trump Tariffs on China
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Biden Approval Rating Drops to New Low
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$40 Billion Aid Package for Ukraine Sent to Biden’s Desk
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Yellen Warns of Stagflation
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Bezos vs. Biden on Taxes and Inflation
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Deficit Will Shrink to $1 Trillion This Year — and Then Soar for Years to Come: CBO
By Michael RaineyThe White House has been eager to take credit for the fact that the federal deficit is falling dramatically this year, and a new report from the Congressional Budget Office confirms that the budget...
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Dems Eye New Deadline for Budget Reconciliation Deal With Manchin
It’s been more than five months since Sen. Joe Manchin (D-WV) surprised the White House by announcing on Fox News that he couldn’t get to yes on Democrats’ sweeping Build Back Better budget...
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US Households Felt Flush in 2021: Fed Report
By Michael RaineyIn the fall of 2021, U.S. households reported the highest level of financial well-being in at least nine years, the Federal Reserve says in a new report Monday. The Fed’s “ Survey of Household...
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Democrats Face a ‘Time Bomb’ on Obamacare
Democrats face a potential pre-election “political time bomb” on an issue they had hoped would provide a boost with voters: the expansion of Affordable Care Act coverage resulting from increased...
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Judge Blocks Biden From Ending Title 42 as DHS Says Surge of Migrants Could Cost $2 Billion
By Michael RaineyThe Centers for Disease Control and Prevention planned to terminate a public health rule known as Title 42, which allows federal officials to expel immigrants for public health reasons, but a judge...
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Senate Approves $40 Billion Aid Package for Ukraine
By Michael RaineyThe Senate approved a $40 billion aid package for Ukraine Thursday, sending the bill to President Joe Biden, who is expected to sign it shortly. The vote was 86 to 11, with all the no votes coming...
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Collapse in Afghanistan ‘Inevitable’ Without US Support: Watchdog
By Michael RaineyJohn Sopko, Special Inspector General for Afghanistan Reconstruction, issued a scathing report Wednesday that examines the causes of the shocking collapse of Afghan armed forces in August 2021. His...
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House Dems Introduce $28 Million Bill to Ease Infant Formula Shortage
By Michael RaineyHouse Appropriations Committee Chairwoman Rosa DeLauro (D-CT) prepared a $28 million supplemental funding bill Tuesday that would help the U.S. Food and Drug Administration address a shortage of...
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The GOP's Battle Over Ukraine Aid
The Senate voted 81-11 Monday to advance a nearly $40 billion aid package to Ukraine that was delayed last week by Sen. Rand Paul (R-KY). The procedural vote to end debate on the bill sets up a final...
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DeLauro Preparing Emergency Funding Bill to Address Baby Formula Shortage
Rep. Rosa DeLauro, the Connecticut Democrat who chairs the powerful House Appropriations Committee, said Monday that she would be putting forth an emergency appropriations bill to address a shortage...
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Biden Says Inflation Is Top Priority, Slams ‘Ultra-MAGA’ GOP
President Joe Biden on Tuesday called inflation “the number one challenge facing families today” and said that addressing rising prices is at the top of his domestic agenda. “I know that families all...
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House to Vote on $40 Billion for Ukraine as Dems Delink Covid Money
Congressional Democrats are reportedly moving to hold a House vote as soon as Tuesday on a nearly $40 billion aid package for Ukraine that would delink assistance to the war-torn nation from $10...
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Tax Revenues Surge, With Meme Stocks Providing a Boost
By Michael RaineyTax collections in the current fiscal year are running at a record high so far — about 43% higher than during the same period in 2019, the last full year before the onset of the Covid-19 pandemic —...
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Group of House Democrats Presses Pelosi for Vote to Fund the Police
A group of 19 Democrats is urging House Speaker Nancy Pelosi (D-CA) and congressional leaders to hold a vote on bipartisan legislation to increase funding for local police departments across the...
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Does the Supreme Court Leak Upend Democrats’ Agenda?
By The Fiscal Times StaffNews that the Supreme Court likely plans to overturn Roe v. Wade overwhelmed just about everything else in Washington today, and the uproar raises the question of whether the abortion rights issue...