Budget Battles
-
Sniping Already Starting Over Baltimore Bridge Reconstruction Costs
-
New Poll Finds Liberals and Conservatives Agree: Tax the Super-Rich
-
Biden Vows US Will Pay to Rebuild Collapsed Baltimore Bridge
-
How Congress Wasted ‘Months of Precious Time’ on the 2024 Spending Bills
-
Senate Struggles to Avert Shutdown, Speaker Johnson Faces Revolt
-
Long-Delayed $1.2 Trillion Spending Package Zooms to the Finish Line
-
Debt Will Hit Record High This Decade, CBO Warns
-
BlackRock CEO Warns of a Retirement Crisis
Larry Fink, the billionaire chairman and CEO of investing giant BlackRock, warns in a newly published annual letter to shareholders that it’s time to rethink retirement savings in aging countries...
-
CBO Projects Major Run-Up in National Debt
By Michael RaineyThe latest long-term outlook from the Congressional Budget Office shows a big increase in the national debt over the next 30 years, with publicly held debt rising to 166% of gross domestic product by...
-
Biden Proposes a $7.3 Trillion Budget for 2025
President Biden on Monday proposed a $7.3 trillion budget for fiscal year 2025 that seeks to lower the costs of prescription drugs, child care and housing while also cutting the deficit by $3...
-
Deficits to Soar Over $2 Trillion a Year, CBO Says
By Michael RaineyThe federal government’s $1.6 trillion annual budget deficit will grow significantly larger over the next 10 years, according to the latest outlook from the Congressional Budget Office, released...
-
Powell Warns of ‘Unsustainable’ Fiscal Path, Talks Rate Cuts
By Michael RaineyIn an interview that aired Sunday evening, Federal Reserve Chairman Jerome Powell told CBS’s “60 Minutes” that “almost all” of the officials involved in setting the central bank’s benchmark interest...
-
House Budget Committee Approves Bill to Create Bipartisan Fiscal Commission
The House Budget Committee on Thursday approved a landmark bill to create a bipartisan fiscal commission that would make recommendations on how to address the rising national debt. The commission has...
-
Tax Cuts or Spending Increases? What’s Driven the Rise in Debt
Does the U.S. government have a spending problem or a revenue problem? Republicans insist that rising deficits and debt and are caused by the former, while Democrats have argued that repeated tax...
-
It’s the Economy, Stupid? Top U.S. Priorities in 2024
By Michael RaineyAmericans are becoming more concerned about immigration and U.S. involvement overseas, but the economy remains the number one issue overall for voters as we head into the 2024 election year,...
-
US Hits $34 Trillion in Debt
By Michael RaineyThe gross U.S. national debt surpassed $34 trillion last Friday, according to the Treasury Department’s daily debt tracker . The debt grew quickly in 2023, topping $32 trillion in June and $33...
-
House Budget Committee Examines Pros and Cons of a Bipartisan Fiscal Commission
The House Budget Committee held a hearing Tuesday to discuss and debate the pros and cons of several proposals to create a bipartisan fiscal commission to address the national debt and federal...
-
Right and Left Fume as Negotiators Near a Debt Limit Deal
White House and congressional negotiators are reportedly nearing a budget deal that would cut spending and raise the debt ceiling to avert an unprecedented default on U.S. debt — and members of both...
-
Fitch Threatens Downgrade as Debt Limit Brinkmanship Continues
By Michael RaineyFitch Ratings, one of the three major firms that grade sovereign debt, announced late Wednesday that the United States’ perfect AAA credit rating is now at risk due to the ongoing political battle...
-
U.S. ‘Almost Certain’ to Miss Early June Payments Unless Debt Limit Is Raised, Yellen Says
By Michael RaineyOnce again warning that the nation faces serious risks from a debt default, Treasury Secretary Janet Yellen said Wednesday that it was “almost certain” that the U.S. would be unable to meet its...
-
Republicans Rebuff Biden Offers as Debt Talks Bog Down
With a potential U.S. debt default just over a week away, House Speaker Kevin McCarthy said late Wednesday that negotiators were making progress toward a deal to raise the federal borrowing limit...
-
Treasury Hits Danger Zone After Memorial Day: Analysis
By Michael RaineyThere is an “elevated risk” that the U.S. Treasury will be unable to pay all of its bills during the first two weeks of June, according to an updated analysis released Tuesday by the Bipartisan...