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...