The Debt
  • District of Columbia

    Deficit Rises to $1.7 Trillion in 2023: CBO

    By Michael Rainey

    The federal budget deficit totaled $1.7 trillion in fiscal year 2023, about $300 billion (23%) larger than the year before, according to a preliminary analysis released by the Congressional Budget...

  • U.S. House Speaker McCarthy speaks with reporters at the U.S. Capitol in Washington

    He’s History: McCarthy Ousted as House Speaker in Unprecedented Vote

    By Michael Rainey

    It took Kevin McCarthy 15 votes to win the House speakership in January, but just one vote to lose his hold on the office 10 months later. Thanks to the efforts of a small minority of far-right...

  • Moody's downgrade gives edge to safe-haven banks

    Moody’s Warns on Shutdown Risk

    By Michael Rainey

    Moody’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...

  • The U.S. Capitol dome is seen in Washington

    U.S. National Debt Tops $33 Trillion

    By Michael Rainey

    The 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...

  • FILE PHOTO: Republican U.S. presidential candidates participate in first 2024 campaign debate in Milwaukee

    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...