Budget Battles
-
Shutdown Odds Soar as McCarthy Rejects Senate Plan
-
Senate Leaders Pitch New Plan to Avoid a Shutdown
-
Trump Tells Republicans to ‘Shut It Down’
-
What’s Next in the Shutdown Showdown
-
Right-Wing Rebels Hand McCarthy a Stunning Defeat
-
McCarthy Pitches a Compromise Spending Plan
-
McCarthy Suffers a Pair of Stinging Defeats
-
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...
-
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...
-
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...
-
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...
-
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...
-
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...
-
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...
-
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...
-
A Plan to Discourage Early Social Security Claims
By Michael RaineyConcerned about the number of Americans who are claiming Social Security in their early 60s, a bipartisan group of senators is calling for changes in how the federal government explains the options...
-
Millionaires Are Done Paying Social Security Taxes for The Year
The payroll tax that finances Social Security requires workers to pay 6.2% of their earnings up to a cap of $160,200 for this year. Employers pay another 6.2%. Sarah Rawlins of the left-leaning...
-
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...
-
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...
-
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...
-
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...
-
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...