Budget Battles
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Senate Republicans Block Ukraine Aid Package
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Republicans Give Dems an Ultimatum on Ukraine Aid
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White House Warns: ‘We Are Out of Money’ for Ukraine
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Battle Over 'Woke' Policies Threatens Defense Bill
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Inflation Slows Again: Soft Landing Ahead?
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US Economy Turns Up the Sizzle
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Border Security Showdown Could Sink Biden’s Aid Package
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Romney and Manchin Call for Commission to Stabilize US Debt
By Michael RaineySens. Mitt Romney of Utah and Joe Manchin of West Virginia introduced a bill Thursday that would create a commission tasked with stabilizing the national debt. Warning that the nation’s finances are...
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US Retirement System Gets a C+
By Michael RaineyWith a mix of mandatory public and private pension programs, the Netherlands has the world’s best retirement system, according to a new ranking from the consulting firm Mercer. The European nation...
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Rising Income Inequality Hurts Social Security, Expert Says
By Michael RaineySocial Security faces a crisis in 2034, when its main trust fund is projected to become insolvent, potentially resulting in significant cuts in benefits. Simple demographics play a major role in the...
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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...
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Social Security Benefits Could Be Cut by $17,400 a Year When Trust Fund Runs Dry
By Michael RaineyA typical retired couple could face a loss of $17,400 in their annual Social Security benefits in 2033, when the retirement program’s main trust fund is projected to run dry. That estimate comes from...
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Biden Taps a New Social Security Administration Chief
President Biden announced Wednesday that he intends to nominate former Maryland governor Martin O’Malley to head the Social Security Administration. “Since Day 1 I have fought to strengthen and...
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National Debt Projected to Soar Over Next 30 Years: CBO
By Michael RaineyDespite the dramatic showdown over the debt ceiling and the resulting budget agreement that restrains federal spending through 2025, the national debt is projected to rise to record levels over the...
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Conservatives’ Budget Plan Slashes Spending, Takes Aim at ‘Woke’ Policies
By Michael RaineyThe House Republican Study Committee released a 2024 budget plan Wednesday that would slash federal spending by $16.3 trillion and cut taxes by $5.1 trillion over a decade, while balancing the budget...
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Pence Joins 2024 Race With a Call for Fiscal Conservatism and Entitlement Reform
Former Vice President Mike Pence launched his bid for the 2024 Republican presidential nomination on Wednesday, using a speech in Ankeny, Iowa, to try to make the case for his brand of conservatism...
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Social Security Trust Fund to Be Tapped Out in 2033: Report
As America ages, retirees on Social Security face steep automatic cuts starting in 2033 while the trust fund for Medicare’s hospital coverage is on pace to be exhausted by 2031, according to annual...
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As Haley Announces Presidential Bid, Trump Attacks Her on Social Security and Medicare
Nikki Haley, the 51-year-old former governor of South Carolina and U.S. ambassador to the United Nations in the Trump administration, officially jumped into the 2024 presidential race Wednesday with...
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US on Pace to Add $19 Trillion to National Debt Over Next Decade: CBO
By Michael RaineyFederal finances are deteriorating more rapidly than expected, the Congressional Budget Office said Wednesday as it released its 10-year outlook for the federal budget and the U.S. economy. The 101-...
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Why Biden Will Keep Hammering the GOP on Social Security
President Biden spent much of last week lambasting Republicans for proposals by some in the GOP that he said would threaten Social Security and Medicare. Republicans gave fresh life to those attacks...
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McConnell Slams Scott as Republicans Feud Over Social Security
President Joe Biden has spent much of this week blasting a proposal from Republican Sen. Rick Scott of Florida to have all federal programs, including Social Security and Medicare, sunset in five...
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Biden and Republicans Clash Again Over Social Security, Medicare
President Joe Biden and Republicans are continuing their war of words over Social Security and Medicare. At an event in Tampa, Florida, on Thursday, Biden again hammered Sen. Rick Scott (R-FL) and...