The Debt
  • ‘Doomed to Fail’: Why a $4 Trillion Bailout May Not Be Enough

    By Michael Rainey

    The roughly $4 trillion spent in response to the coronavirus pandemic has become the costliest economic rescue effort in U.S. history, surpassing even the staggering cost of 18 years of war in...

  • District of Columbia

    Debt Will Nearly Double by 2050: CBO

    By Michael Rainey

    The national debt will increase to about twice the size of the economy over the next 30 years, the Congressional Budget Office said Monday in its latest long-term budget outlook . Currently equal to...

  • FILE PHOTO: George Washington is seen with printed medical mask on the one Dollar banknotes in this illustration taken

    Pandemic Legislation Will Boost GDP by 4.7% This Year: CBO

    By Michael Rainey

    The four major laws passed by Congress to address the coronavirus pandemic will boost real domestic gross product by 4.7% in 2020 and 3.1% in 2021, the Congressional Budget Office said Friday. The “...

  • Biden’s Tax Plan: Who Really Would Pay More?

    Joe Biden’s tax plan would have high earners paying significantly more, with the top 1% of households shouldering 80% of the increase while those earning less than $400 would see no change on average...

  • The American Flag flies at the U.S. Capitol Building, as Mayor Muriel Bowser declared a State of Emergency due to the coronavirus disease (COVID-19), on Capitol Hill in Washington

    US Debt Costs Falling Even as Borrowing Soars

    By Michael Rainey

    Interest costs on the national debt have fallen about 10% this fiscal year, even as the amount of debt issued by the U.S. Treasury has hit record levels, Bloomberg reported Friday. And over the next...

  • White House economic adviser Larry Kudlow speaks during a meeting of the Economic Club of New York in New York

    Larry Kudlow Again Says That US Debt Isn’t a Problem

    By Michael Rainey

    Larry Kudlow, director of the National Economic Council, said Tuesday that in his view the $22.5 trillion national debt is not a pressing issue. "I don't see this as a huge problem at all right now...

  • Senator Kamala Harris speaks during the second night of the first U.S. 2020 presidential election Democratic candidates debate in Miami, Florida, U.S.

    Kamala Harris Smacked Down a Question on How to Pay for Progressive Agenda

    Sen. Kamala Harris shook up the Democratic presidential primaries with her debate performance Thursday night. She’s widely seen as the clear winner from the second night of the debates, having...

  • <strong>The biggest risk is losing money in the market.</strong><br/><br/>Over time, it's almost impossible to avoid losing money in the market, even for the best stock picker. But the greater risk is outliving your savings. Unless you expect to die in th

    Zero Interest Rates Ahead?

    By Michael Rainey

    Reflecting on the latest budget projections from the Congressional Budget Office, which show relentlessly rising debt and interest costs over the next 30 years, Bloomberg’s Noah Smith says that one...

  • A cyclist passes the U.S. Capitol in Washington

    Growth of US Debt Slows, but Record Levels Still Ahead

    By Michael Rainey

    The national debt will reach “unprecedented levels” over the next 30 years, according to the new long-term budget outlook released Tuesday by the Congressional Budget Office. Federal outlays will...

  • Is Big Government Making a Comeback?

    By Michael Rainey

    Recognizing a growing hostility toward major social welfare programs, President Bill Clinton famously announced that “the era of big government is over” back in 1996. Twenty years later, Democratic...