Budget Battles
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News Alert: Shutdown Averted
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McCarthy’s Plan Fails, All but Guaranteeing a Shutdown
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Lawmakers Eye Border Deal to Help Avert a Shutdown
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Shutdown Odds Soar as McCarthy Rejects Senate Plan
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Senate Leaders Pitch New Plan to Avoid a Shutdown
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Trump Tells Republicans to ‘Shut It Down’
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What’s Next in the Shutdown Showdown
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Moody’s Warns on Shutdown Risk
By Michael RaineyMoody’s Investors Service warned Monday that a government shutdown would be seen negatively by the credit rating agency. Of the three major ratings agencies, Moody’s is the only one that has...
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U.S. National Debt Tops $33 Trillion
By Michael RaineyThe national debt hit a new milestone Monday, topping $33 trillion for the first time, according to data published by the Treasury Department. The record amount reflects the size of the gross...
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GOP Candidates Clash Over Government Spending, Entitlements
Although the opening exchanges of last night’s Republican presidential primary debate aren’t making many highlight reels and recaps, they showed the candidates trying to establish their fiscally...
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Inflation, Budget and Debt High on GOP Voters’ List of Priorities: Poll
As eight Republican candidates not named Donald Trump aim to use tonight’s initial 2024 presidential primary debate to build some momentum in the race for the GOP nomination, policy matters may take...
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A Battle Over Spending? White House Says Bring It On
By Michael RaineyAlthough Republicans have sometimes dominated the debate over efforts to reduce deficits and the debt, the Biden administration thinks it may have gained the upper hand on the issue – and looks...
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Two New Factors Raise Threat of Government Shutdown
When Congress returns to the Capitol next month, lawmakers will have precious little time to try to avoid a government shutdown once current funding runs out after September 30. The likelihood of a...
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US Credit Downgrade Sparks More of the Fighting It Warned About
By Michael RaineyThe downgrade of the U.S. credit rating from AAA to AA+ by Fitch on Tuesday has produced a range of reactions from politicians, economists and Wall Street analysts. Here’s a roundup of key points...
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U.S. Credit Rating Downgraded from AAA by Fitch
Fitch Ratings downgraded the long-term credit rating of the United States from AAA to AA+ on Tuesday, citing the U.S. government’s debt burden and its “expected fiscal deterioration over the next...
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House Lawmakers Announce Bipartisan Group Focused on the Debt
Fiscal hawks in the House of Representatives have a new BFF. A group of lawmakers led by Democratic Rep. Scott Peters of California and Republican Rep. Bill Huizenga of Michigan have formed the “...
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National Debt Projected to Soar Over Next 30 Years: CBO
By Michael RaineyDespite the dramatic showdown over the debt ceiling and the resulting budget agreement that restrains federal spending through 2025, the national debt is projected to rise to record levels over the...
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National Debt Tops $32 Trillion for the First Time
The U.S. national debt surpassed $32 trillion for the first time on Thursday, according to Treasury Department data released today. The milestone comes less than two weeks after President Joe Biden...
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Deficit Hits $1.2 Trillion for First 8 Months of Fiscal Year 2023
By Michael RaineyThe federal budget deficit was $236 billion in May, according to the Congressional Budget Office’s latest monthly estimate , bringing the total for the first eight months of the fiscal year to nearly...
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Pence Joins 2024 Race With a Call for Fiscal Conservatism and Entitlement Reform
Former Vice President Mike Pence launched his bid for the 2024 Republican presidential nomination on Wednesday, using a speech in Ankeny, Iowa, to try to make the case for his brand of conservatism...
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Hardliners Continue to Paralyze House in Revolt Against McCarthy
A group of hardline conservatives continued their revolt against Speaker Kevin McCarthy on Wednesday, blocking action on the House floor for a second straight day in protest against McCarthy’s deal...
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House Hardliners Rebel in Anger Over Debt Limit Deal
A group of conservatives, still angry over the deal Speaker Kevin McCarthy struck with President Joe Biden to resolve the debt limit fight, blindsided Republican leaders Tuesday with a protest vote...