Budget Battles
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Johnson Unveils Plan for Israel, Ukraine Aid
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Trump Throws Johnson a Lifeline: ‘He’s Doing a Very Good Job’
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Biden’s New Student Debt Relief Plan Would Cost $84 Billion: Analysis
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House Conservatives Deal a New Blow to Johnson
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Marjorie Taylor Greene Fires Another Warning Shot at Johnson
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Trump Promises Billionaires: I'll Keep Your Taxes Low
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Freedom Caucus Says No Baltimore Aid Unless ...
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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...
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Debt Danger Ahead Even Greater Than CBO Sees: Analysis
The team at Bloomberg Economics is warning that federal debt is set to grow even higher as a share of the economy than the most recent projections from the Congressional Budget Office, which see the...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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,...
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US on Pace to Add $19 Trillion to National Debt Over Next Decade: CBO
By Michael RaineyFederal finances are deteriorating more rapidly than expected, the Congressional Budget Office said Wednesday as it released its 10-year outlook for the federal budget and the U.S. economy. The 101-...
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US Faces Debt Default as Soon as July: CBO
By Michael RaineyThe U.S. will default on its obligations sometime between July and September if the federal debt limit is not raised or suspended, the Congressional Budget Office said in a new estimate published...
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Biden and GOP Tangle Over Social Security and Medicare
By Michael RaineyRabble-rousing Republicans keep giving President Joe Biden wins. In a particularly tumultuous moment in his State of the Union address Tuesday night, Biden accused a handful of Republicans of...
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Biden and McCarthy Dive Into Debt Talks
The debt ceiling dance has begun. President Joe Biden and House Speaker Kevin McCarthy (R-CA) met at the White House for more than an hour on Wednesday, as the two set out on talks about raising the...
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Round 1 in the Debt Limit Fight
The slowly unfolding fight over the debt limit and federal spending will inch forward on Wednesday as President Joe Biden and House Speaker Kevin McCarthy meet, their first such sit-down since...