Budget Battles
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Johnson Says This Could Be ‘Most Consequential Congress’ of Modern Times
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Trump Preps for Immigration Crackdown With Key Appointments
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Trump Names His New Chief of Staff
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Trump Storms to a Second Term
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The Defining Numbers of the 2024 Election
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Trump Threatens New Tariffs on Mexico in Final Day of Campaigning
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Harris Says Trump’s Violent Language ‘Must Be Disqualifying’
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Trump Makes a MAGA Comeback
Donald Trump’s election to a second term in the White House cements an astonishing and historic political comeback, delivering supporters of his MAGA movement a profound sense of vindication while...
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US Deficit Totals $1.8 Trillion for Fiscal Year 2024: CBO
The federal government’s budget shortfall for fiscal year 2024 grew by $139 billion from the previous year to reach $1.8 trillion, according to an estimate released Tuesday by the Congressional...
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Speaker Johnson Outlines 5-Point Republican Agenda for 2025
House Speaker Mike Johnson pitched Wall Street today on Republicans’ agenda of tax cuts and deregulation, promising to deliver an economic boost while also pursuing “fiscal responsibility” if former...
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Moody’s Warns Growing Deficits Could Take a Toll on US Credit Rating
By Michael RaineyPolitical polarization could make it more difficult for the next administration in Washington to address the country’s deteriorating fiscal situation, and that may have negative implications for the...
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Deficit Hits $1.5 Trillion in First 10 Months of Fiscal Year: CBO
By Michael RaineyThe federal budget deficit was $1.5 trillion in the first 10 months of the 2024 fiscal year, according to an initial estimate released by the Congressional Budget Office released Thursday. The...
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7 Proposals to Rein In the Debt
By Michael RaineyAlthough it may be hard to imagine now, at some point in the not-too-distant future the 2024 election will be over and a new government will take over in Washington. No matter who is in power, the...
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Meet the New Trump, Same as the Old Trump
Football fans likely remember an angry postgame press conference rant by Arizona Cardinals Head Coach Dennis Green in 2006. His team had just blown a 20-point halftime lead to the Chicago Bears,...
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Trump’s Republican Platform Drops Any Mention of National Debt
Ahead of the Republican National Convention in Milwaukee next week, the GOP on Monday published its 2024 platform — a 16-page outline of the party’s policy positions for a second Trump term. The...
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IMF Warns of ‘Pressing Need’ to Address U.S. Debt
The International Monetary Fund said in a report Thursday that the U.S. economy “has turned in a remarkable performance over the past few years,” but added that there is now “a pressing need to...
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A 30-Year Plan to Stabilize the National Debt
By Michael RaineyOn the heels of new projections from the Congressional Budget Office showing that the federal budget deficit and national debt will continue to rise for years to come, with the debt reaching record...
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Trump Added About Twice as Much to National Debt as Biden: Report
Whether Joe Biden or Donald Trump wins the White House in November, the next presidential term is likely to see the national debt reach a record size relative to the U.S. economy. A new analysis by...
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CBO Raises Its 2024 Deficit Forecast 27% to Nearly $2 Trillion
By Michael RaineyThe federal budget deficit will reach an estimated $1.9 trillion in fiscal year 2024, according to an updated outlook released by the Congressional Budget Office Tuesday. The new projection...
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IRS Takes Aim at a $50 Billion Loophole for Wealthy Taxpayers
By Michael RaineyThe IRS announced Monday that it plans to eliminate a loophole used by large, complex partnerships to avoid taxes – a move that could raise more than $50 billion over the next decade. The tax agency...
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Republicans Planning New Tax Cuts in 2025
By Michael RaineyRepublican lawmakers say they will push to extend the 2017 tax cuts for individuals set to expire at the end of next year, laying the groundwork for what is expected to be a major battle over fiscal...
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Deficit Tops $1 Trillion in First 6 Months of 2024 Fiscal Year
By Michael RaineyThe federal budget deficit totaled $1.06 trillion in the first six months of the current fiscal year, the Treasury Department reported Wednesday. Receipts rose to a record $2.18 trillion, an increase...