Budget Battles
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Shockingly Weak Jobs Report Spurs Partisan Clash
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US Incomes Soar on Covid Relief Payments
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Biden Says He’s Willing to Compromise on Major Tax Hike
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Yellen Spooks Investors With Talk of Rate Hikes
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McConnell: ‘Zero’ GOP Support for Biden’s Big Plans
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Biden Cancels Trump Border Wall Projects Funded by Military
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Who Gets Hit by Biden’s Tax Hike on Top Earners
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Republicans Rediscover Debt and Deficit Concerns. But Will Americans Care?
Republicans lawmakers are gathering in Orlando, Florida this week for a three-day retreat to plot policy and strategy, with an eye toward winning back the House in 18 months. “There’s going to be a...
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A Quick Guide to ‘Bidenomics’
By Michael RaineyPresident Joe Biden is proposing an array of policies that mark a dramatic shift away from decades of conventional wisdom about economics and politics in the U.S., Greg Ip of The Wall Street Journal...
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John Oliver Asks How Worried We Should Be About the ‘Undeniably Big’ US Debt
HBO’s “Last Week Tonight with John Oliver” dedicated the bulk of Sunday night’s episode to an in-depth look at the $28 trillion national debt, which Oliver called “an absolute f--- ton of money.” "...
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What’s in Biden’s $2.3 Trillion Infrastructure Plan
President Biden on Wednesday unveiled a sweeping $2.3 trillion plan to rebuild and modernize America’s infrastructure, create millions of new jobs and strengthen the nation’s competitiveness,...
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Big Win for Biden: Congress Passes Historic Covid Relief Bill
The House passed President Joe Biden’s massive $1.9 trillion America Rescue Plan on Wednesday, giving final approval to a sweeping package that provides emergency pandemic aid and also authorizes a...
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Why Biden’s Win on Covid Relief Is a Big Deal
President Joe Biden’s $1.9 trillion Covid relief bill is on track to become law on Wednesday, and while you may be understandably most concerned about what it means for you — how big a “stimulus...
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What the Senate's Messy Covid Vote Means for the Rest of Biden’s Agenda
The Senate process in passing President Joe Biden’s $1.9 trillion Covid relief package highlighted just how powerful moderates in the chamber, especially Sen. Joe Manchin (D-WV), are now — and could...
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Democrats Near the Finish Line on Covid Relief Bill
Democrats have two steps left in passing their $1.9 trillion Covid relief bill and delivering President Joe Biden his first major legislative win — a historically large, deficit-financed package that...
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Tweet of the Day: What’s Missing From GOP Attacks on Biden Rescue Plan
Republicans have been slamming President Biden’s Covid rescue plan, arguing that it is more focused on advancing a longstanding liberal wishlist than on delivering real pandemic relief. GOP...
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2021 Deficit Projected at $2.3 Trillion Even Before Biden Stimulus: CBO
The U.S. budget deficit will total $2.3 trillion this fiscal year, down substantially from last year but still on track to be the second largest in the nation’s history, the Congressional Budget...
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‘Doomed to Fail’: Why a $4 Trillion Bailout May Not Be Enough
By Michael RaineyThe 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...
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Debt Will Nearly Double by 2050: CBO
By Michael RaineyThe 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...
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Pandemic Legislation Will Boost GDP by 4.7% This Year: CBO
By Michael RaineyThe 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 “...
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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...
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US Debt Costs Falling Even as Borrowing Soars
By Michael RaineyInterest 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...