Budget Battles
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Air Force Unveils Its New B-21 Stealth Nuclear Bomber
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Massive Covid Aid Fraud Was Fueled by Fintech Companies: Report
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Fed’s Powell: ‘Long Way to Go’ in Battle Against Inflation
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Congress Looks to Avert Rail Strike
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Pentagon Chief Warns Congress to Act - Now
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Biden Pauses Student Loan Payments Again: How Much It Will Cost
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Democrats Should Defuse the Debt-Limit Time Bomb: Orszag
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McConnell Set to Make History After Fending Off a Revolt
Sen. Mitch McConnell (R-KY) was reelected by his caucus as Senate Republican leader, fending off a challenge from Sen. Rick Scott of Florida — the first such challenge McConnell has faced in 15 years...
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Social Security? Inflation? Dems Still Searching for a Winning Election Message
With Election Day a week away, President Joe Biden headed to South Florida on Tuesday to warn — again — that Social Security and Medicare are “under siege” by Republicans and that the future of the...
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A New Proposal to Cut the Deficit and Fight Inflation
The Committee for a Responsible Federal Budget on Wednesday issued a model deficit-reduction plan that it says would put the United States on a sustainable fiscal path and secure the solvency of...
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Republicans Will ‘Crash the Economy,’ Biden Warns
By Michael RaineyPresident Joe Biden on Monday delivered what he called his “closing argument” to voters ahead of the midterm elections, which he said offered “a choice between two vastly different visions for...
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Biden Trumpets Falling Deficit, Slams Republican Agenda
With less than three weeks to go until Election Day, President Joe Biden on Friday sought to pitch Americans on the progress of his economic agenda and the strength of the economy, pointing to a...
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McCarthy Looks to Defuse Fears That GOP Would Slash Social Security
House Republican Leader Kevin McCarthy on Wednesday tried to assuage any fears that the GOP would look to slash Social Security and Medicare as part of a plan to leverage the debt ceiling to force...
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Kevin McCarthy Plans a Debt Limit Showdown
Republican are prepared to play with fire if they win control of the House. Minority Leader Kevin McCarthy (R-CA) confirmed in a newly published interview with Punchbowl News that the GOP will look...
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Republicans Plan to Use Debt Limit Leverage to Reduce Social Security, Medicare: Report
By Michael RaineyRepublicans in the House are planning to use a potential showdown next year over raising the federal debt limit to make changes in Social Security and Medicare, Bloomberg’s Jack Fitzpatrick reports...
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McCarthy Rolls Out a Republican Agenda
By Michael RaineyHouse Minority Leader Kevin McCarthy (D-CA) on Friday unveiled a conservative populist agenda ahead of the midterm elections, giving voters a sense of what Republicans hope to accomplish if they can...
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Some Republicans Keep Floating Social Security and Medicare Privatization
Politico’s Natalie Allison reports that some Republicans keep floating the idea of privatizing Social Security and Medicare, despite the political perils involved in raising the idea — and despite...
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Social Security Benefits Headed for Biggest Bump in 40 Years
With inflation running at an 8.3% annual rate as of August, Social Security beneficiaries are set to receive the largest cost-of-living adjustment in four decades. Based on government data released...
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As Social Security Turns 87, Democrats Warn GOP Wants to ‘Put It on the Chopping Block’
By The Fiscal Times StaffPresident Franklin D. Roosevelt signed the Social Security Act into law on August 14, 1935, and Democratic leaders on Monday celebrated the 87th anniversary of that monumental event – while warning...
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Social Security Benefits Set for a Huge Boost in 2023: Analysis
Social Security’s annual cost of living adjustment for 2023 will be the highest in four decades, according to projections from the Committee for a Responsible Federal Budget. While benefits this year...
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Rick Scott Drops Tax Hike Plan That Drew Bipartisan Backlash
Republican Sen. Rick Scott of Florida on Thursday revised his proposed agenda for the GOP and ditched language that had called for all Americans to “pay some income tax to have skin in the game.”...
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Save Social Security by Taxing the Rich? Democrats Have a Plan
By Michael RaineyThe Social Security trustees announced last week that the program’s trust fund will be depleted in 2035, at which point benefits would be cut by 20%, assuming Congress does nothing to alter its...