Budget

The Politics Behind Permanent Trillion-Dollar Deficits

By Yuval Rosenberg

Budget Guy Stan Collender writes that budget deficits under the Trump administration are projected to hit $1 trillion in 2020 — and keep rising to $1.5 trillion in fiscal 2028. “But what’s most...
House Committee to Mark Up Doomed 2019 Budget

By Yuval Rosenberg

House Budget Committee Chairman Steve Womack (R-AR) announced Monday that his panel will hold a two-day markup of the fiscal 2019 budget resolution on Wednesday and Thursday. The resolution...
Another Way Trump’s Trade War Could Hurt the US

By Yuval Rosenberg

Peter Boockvar, chief investment officer at the Bleakley Advisory Group, adds another wrinkle to the dangers of an emerging trade war. In a Monday morning email, Boockvar notes that foreigners were...
Trump Calls for the Military to Add a Space Force

By Michael Rainey

President Trump ordered the Defense Department on Monday to take steps toward creating a new branch of the military focused on space. "I am hereby directing the Department of Defense and Pentagon to...
Is Trump Really Saving Money by Canceling ‘War Games’ in South Korea?

By Michael Rainey

President Trump announced Tuesday that the extensive joint military exercises the U.S. regularly holds with South Korea will cease as he seeks to improve relations with North Korea. In addition to...

Congress Faces a Rocky Road to November

By Yuval Rosenberg

The news headlines may be dominated by stories about President Trump, North Korea, trade wars and the special counsel investigation into Russian interference in U.S. elections, but budget expert Stan...
Why Trump’s Spending Clawbacks Matter ... and Why They Don’t

By Yuval Rosenberg

In a party-line vote, the House on Thursday evening narrowly passed the White House’s proposal to claw back nearly $15 billion in previously approved federal funding that was never spent. The vote...
Trump’s Rescissions Package Will Save Only $1.1 Billion, CBO Says

By Yuval Rosenberg

The Trump administration’s revised plan to claw back federal spending is heading for a House vote tonight, but a new analysis by the Congressional Budget Office finds that it will save only $1.1...
Do Deficit Hawks Have a Snowball’s Chance in Hell in Today’s Politics?

By Michael Rainey

When Starbucks founder and executive chairman Howard Schultz announced his retirement earlier this week, he set off a round of speculation about a possible presidential run in 2020. Schultz has never...
Boomers vs. Kids: Federal Spending on Children Is Falling

By Yuval Rosenberg

“The future depends on what we do in the present,” Mahatma Gandhi once said (at least according to the Internet). If so, a new report suggests we’re headed for some trouble, as the federal government...

The Savings from Trump's Spending Cuts Would Be Smaller Than Advertised

By The Fiscal Times Staff

At The Weekly Standard , Chris Deaton writes that the White House’s plan to cut $15.4 billion in spending “is a drop in a bucket floating on a sea” — and the real amount it would lop off the deficit...
Trump Administration Proposes $143.5 Billion in Federal Employee Retirement Cuts

By Yuval Rosenberg

Just in time for Public Service Recognition Week, the Trump administration has proposed $143.5 billion in compensation cuts for federal employees, The Washington Post’s Joe Davidson reports : “In a...
Demand at Treasury Auction Is ‘Lame’

By Michael Rainey

The U.S. Treasury’s latest auction saw relatively weak demand Tuesday, with prices edging lower and interest rates moving higher. “Overall bidding at the $31 billion U.S. Treasury three-year note...
Everything You Need to Know About Trump's $15 Billion in Spending Cuts

By Yuval Rosenberg

The White House on Tuesday unveiled its package of $15.4 billion in proposed spending cuts. The list of rescissions , as they’re called, includes 38 proposals ranging in size from about $519,000 to...
Record Budget Surplus in April

By Michael Rainey

It may seem a bit odd to talk about a budget surplus at a time of soaring deficits, but tax receipts are coming in stronger than expected in April and the Congressional Budget Office is now...