Budget Battles
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Pelosi Sets Deadline for Stimulus Deal
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US Deficit Soars to $3.1 Trillion
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McConnell Rejects Trump’s Call for Bigger Stimulus
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Mnuchin: Relief Bill Will Be ‘Difficult’ Before Election
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Trump Undermines McConnell on Stimulus Plan
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Trump Faces a GOP Revolt Over Stimulus
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Trump's Big U-Turn: A $1.8 Trillion Stimulus Offer
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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...
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McConnell Shoots Down Trump’s Call for Bigger Stimulus
President Trump said Thursday he’d agree to a coronavirus relief package larger than the $1.8 trillion his administration offered last week, but Senate Majority Leader Mitch McConnell quickly shot...
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Mnuchin: Relief Bill Will Be ‘Difficult’ Before Election
In case it wasn’t already clear that a new coronavirus relief bill probably isn’t coming before the election, just take a look at what Treasury Secretary Steven Mnuchin, who has been negotiating the...
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Why Big Deficits Are Here to Stay (for Now)
By Michael RaineyFrom billions in income supplements for households to trillions in guaranteed loans for businesses, fiscal policy has taken a central role in the government’s response to the Covid recession...
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McConnell Plans Vote on Narrow Relief Package. Trump Says, ‘Go Big or Go Home!!!’
As the stalemate over another coronavirus relief package continues, these three things all happened on Tuesday: • Senate Majority Leader Mitch McConnell (R-KY) announced that the Senate will take up...
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Trump Faces a GOP Revolt Over Stimulus
The faint hopes that were raised last week for another coronavirus relief package faded very quickly, as congressional Republicans and Democrats both rejected a $1.8 trillion White House proposal,...
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Both Trump and Biden Plans Would Push Debt Higher: CRFB
By The Fiscal Times StaffEach set of proposals laid out in the campaigns of President Trump and former Vice President Joe Biden would increase the national debt by about $5 trillion over a decade, according to a new analysis...
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Trump Admin Pushes Federal Bureaucracy ‘Bloat’ to 60-Year High
By Michael RaineyDespite rhetoric about shrinking government, the Trump administration has presided over an expansion of total federal employment and record levels of bureaucratic bloat, according to a new study from...
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Trump Cuts Off Coronavirus Stimulus Talks
President Trump said Tuesday that he instructed White House negotiators to cut off talks on another coronavirus relief package until after the November elections. In a series of tweets posted less...
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Powell Warns Economy Could Falter Without More Help
By Michael RaineyThe recovery still has “a long way to go” and the economy continues to need significant monetary and fiscal support, Federal Reserve Chairman Jerome Powell said Tuesday, in what many saw as a warning...
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‘Doomed to Fail’: Why a $4 Trillion Bailout May Not Be Enough
By Michael RaineyThe roughly $4 trillion spent in response to the coronavirus pandemic has become the costliest economic rescue effort in U.S. history, surpassing even the staggering cost of 18 years of war in...