Budget Battles
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Covid Relief Bill Stalls in Fight Over Unemployment Benefits
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GOP Turns to Delay Tactics to Stall Covid Relief Bill
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Biden Agrees to Limit Covid Relief Payments
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Dems Debate Smaller Unemployment Checks
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Now It's the Senate's Turn on Stimulus
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Democrats Scramble to Save $15 Minimum Wage
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The US Is About to Get a New Top Tax Break
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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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Biden Rips Republicans on Covid Relief, Says He’s Ready to ‘Act Fast’
President Biden on Friday made a forceful case for his $1.9 trillion Covid rescue package, arguing in a speech to the nation that another weak monthly jobs report demonstrates that the economy...
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US Treasury Slashes Borrowing Estimate
By Michael RaineyThe federal government spent less than expected at the end of 2020, so the U.S. Treasury earlier this week sharply reduced its estimates for borrowing in the first three months of 2021. The Treasury...
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Investors Tell Washington: Don’t Worry About the Debt
With a growing number of lawmakers expressing concerns about another massive, deficit-financed Covid relief package and the historically large national debt, Politico’s Victoria Guida reports that...
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The Battle Over Biden’s Big Stimulus Plan
President Biden’s flurry of first-week executive orders comes as his $1.9 trillion proposal for the next coronavirus relief package faces intense Republican opposition, including from moderates whose...
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Yellen Tells Congress It’s Time to ‘Act Big’ to Rescue the Economy
Incoming Treasury Secretary Janet Yellen on Tuesday urged Congress to “act big” and deliver more relief to the pandemic-ravaged economy. As she sought to build support for the $1.9 trillion rescue...
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Orszag, Rubin and Stiglitz Call for a New Fiscal Framework
The consensus on the dangers of rising debt has shifted dramatically over the last decade. Economists have been reexamining how best to spur recovery and encourage wider-spread prosperity as...
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Deficit Hits $572 Billion for First Three Months of Fiscal 2021: CBO
The federal budget deficit for the first quarter of fiscal year 2021 totaled $572 billion, up $215 billion from the same period a year earlier, the Congressional Budget Office estimated on Monday...
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2021 Deficit On Track to Total $2.3 Trillion: Budget Watchdog
The federal budget deficit for fiscal year 2021 is on track to total $2.3 trillion, or 10.4% of gross domestic product, lower than the record $3.1 trillion deficit last year but higher than any other...
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McConnell and Pelosi Set Up Clash Over Coronavirus Money to States
The $484 billion coronavirus aid package passed by the Senate Tuesday won’t provide any more federal money to states facing an increasingly grim fiscal outlook as revenues dry up due to the pandemic...
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Senate Approves Another $484 Billion in Coronavirus Relief
The Senate passed an additional $484 billion in emergency coronavirus aid on Tuesday, replenishing a loan program for small businesses that ran dry last week and providing more funding for hospitals...
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Coronavirus Spending Will Spur Renewed Battles Over Deficit
As Congress works to add hundreds of billions of dollars more in coronavirus relief funding, it’s clear that the federal budget deficit and national debt are soaring to levels never seen before . The...
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National Debt Will Exceed GDP This Fiscal Year, New Projection Says
The Congressional Budget Office projected early last month that the federal debt held by the public would approach the size of the economy in a decade, rising from just over 80% of gross domestic...
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Coronavirus Response Will Add $4 Trillion to US Debt, Goldman Sachs Says
Economists at Goldman Sachs say additional fiscal measures to support an economy battered by the coronavirus pandemic are likely to be necessary, and they expect those measures could add another $500...