The National Debt Just Hit $36 Trillion. Does Trump Have a Plan To Control It?
It would take nearly $8 trillion in budget cuts merely to stabilize the national debt so it does not grow faster than the economy.
Budget Deficit
Trump's First Term Wasn't Fiscally Responsible. Will His Second Be Different?
Even before the pandemic spending increase, the budget deficit was approaching $1 trillion. The GOP has the chance to embrace fiscal sanity this time if they can find the political will.
The Impact of Trump's Cost-Cutting Initiative Hinges on What He Means by 'Government Efficiency'
Narrowly understood, the president-elect's familiar-sounding plan to tackle "massive waste and fraud" may not give us "smaller government" in any meaningful sense.
Trump Has No Discernible Interest in Fiscal Responsibility
The president-elect’s record and campaign positions belie Elon Musk’s talk of spending cuts.
How Donald Trump and Elon Musk Could Cut $2 Trillion in Government Spending
If Musk is truly serious about fiscal discipline, he'll advise the president-elect to eschew many of the policies he promised on the campaign trail.
The House Is Democrats' Best Chance To Check Trump's Executive Powers
With control of the House still undecided, a Democratic majority could serve as the strongest check on Trump's worst impulses.
Milei Shuts Down Argentina's Tax Agency
AFIP is an "unnecessary bureaucracy" that stifles economic freedom, says Milei's government.
Trump Panders to Auto Industry, Proposes Making Car Loan Interest Tax Deductible
The former president's increasingly lopsided economic policy proposals have the feel of throwing spaghetti at the wall.
Biden and Harris' Record on Spending and Debt Is a Tragedy of Epic Proportion
When they entered the White House, the budget deficit was a pandemic-influenced $2.3 trillion, and it was set to fall to $905 billion by 2024. It's now twice what it was supposed to be.
Budget Deficit Hit $1.8 Trillion After Huge Increase in Borrowing Costs
Spending increased by 10 percent last year, while tax revenue increased by 11 percent. Interest payments on the debt shot up by 34 percent.
Don't Expect a Return to the Trump Economy
If the former president wins the 2024 race, the circumstances he would inherit are far more challenging, and several of his policy ideas are destructive.
Rand Paul's Plans To Balance the Budget Are a Useful Illustration of Congress' Addiction To Borrowing
The budget could be balanced by cutting just six pennies from every dollar the government spends. It used to require even less.
The Cutting Edge
Plus: The Federal Reserve cut interest rates, Congress still isn't cutting spending, and more....
Trump's Proposals Would Add $5.8 Trillion to the Deficit
Vice President Kamala Harris would add about $2 trillion to the deficit.
Mike Pence's Sensible (and Probably Doomed) Plan To Fix the National Debt
Lawmakers must be willing to reform so-called "mandatory spending," Pence's nonprofit argues in a new document.
RFK Jr. Pays Lip Service to the Debt While Pushing Policies That Would Increase It
It's good to hear a candidate actually talk about our spending problem. But his campaign promises would exacerbate it.
'The Problem Is Spending': Libertarian Presidential Nominee Chase Oliver's Vision for the Future
The candidate supports gun rights, wants to privatize government programs, and would radically reduce the number of federal employees.
Republicans Don't Even Pretend To Want To Cut Government Anymore
This week left no doubt that the GOP's current leadership wants the government to do more, spend more, and meddle more.
Here's How To Pay for Trump's Tax Cuts
There seems to be general bipartisan agreement on keeping a majority of the cuts, which are set to expire. They can be financed by cleaning out the tax code of unfair breaks.
IRS Crackdown Nets Enough Revenue To Fund the Government for 90 Minutes
The Biden administration's $60 billion expansion of the IRS has netted $1 billion in new revenue so far.
The National Debt Is Crossing an Ominous Line
The U.S. has successfully navigated past debt challenges, notably in the 1990s. Policymakers can fix this if they find the will to do so.
Biden, Trump, and RFK Jr. Are All Anti-Freedom
Those three presidential candidates are making promises that would have bewildered and horrified the Founding Fathers.
Numb to the Numbers
The national debt has become an alarm bell ringing in the distance that people are pretending not to hear, especially in the city that caused the problem.
America Is in a Debt Crisis. Will Trump or Biden Address It at the Debate?
The candidate who grasps the gravity of this situation and proposes concrete steps to address it will demonstrate the leadership our nation now desperately needs. The stakes couldn't be higher.
Eating Doritos While Drowning in Debt
Plus: A listener asks if there are any libertarian solutions to rising obesity rates.
Federal Budget Deficit Forecast Jumps $400 Billion, Fueled by Student Debt Forgiveness
The Congressional Budget Office reports the 2024 budget deficit will near $2 trillion.
The National Debt Is Now So High That Every American Essentially Owes $100,000
We could grow our way out of our debt burden if politicians would limit spending increases to just below America's average yearly economic growth. But they won't even do that.
The National Debt Is Making Us Poorer
The average American will lose between $5,000 and $14,000 annually by 2054 due to the burden of the growing national debt.
Congress' Budget Process Is Broken. Here's One Idea for Fixing It.
Lawmakers should be freed from "the dead hand of some guy from 1974," says former Congressional Budget Office director.
Don't Give Biden a Pass on Inflation. Don't Give Trump a Pass on COVID.
Will the real president of the United States during the years 2020 through 2022 please stand up?
Say No to This: America's Fiscal Norms Are in Decline
Despite their informal nature, those norms have historically constrained U.S. fiscal policy. But they're eroding.
Milei To Slash 70,000 Government Jobs To Reform Argentina's Economy
The cuts are part of the president's broader strategy to achieve fiscal balance at any cost.
The National Debt Is a National Security Issue
The growing debt will "slow economic growth, drive up interest payments," and "heighten the risk of a fiscal crisis," the CBO warns.
The White House Claims Borrowing $16 Trillion Over the Next Decade Is Fiscally Responsible
If you can't even get close to balancing the budget when unemployment is low, tax revenues are near record highs, and the economy is booming, when can you do it?
Republicans Use Fuzzy Math To Claim Large FBI, ATF Cuts in Budget Bill
The total appropriations package would cut $200 billion over 10 years, as the national debt expands by $20 trillion.
Biden's Cognitive Shrinkflation
Plus: A listener asks if the state of Oregon’s policy on drug decriminalization should be viewed as a success.
Immigration Could Reduce the Deficit by at Least $1 Trillion Over the Next Ten Years
But the Congressional Budget Office projection assumes we will not cut immigration levels, as is likely to happen if Trump returns to power.
Surging Immigration Will Reduce Deficits by $1 Trillion
New Congressional Budget Office data shows how higher-than-expected immigration is a win for the economy and the federal budget.
Federal Government Will Borrow Another $20 Trillion in the Next Decade
Three things to know about the new Congressional Budget Office report on the growing federal deficit.
How Increasing Immigration Can Reduce the Deficit
And why the Congressional Budget Office does a poor job of making those estimates.
Politicians Need To Stop Pretending the National Debt Is Sustainable
The reality raises questions about the kind of future we want to leave for the next generation.
America Has Borrowed $1 Trillion Since the Start of Football Season
The federal government is borrowing money at a mind-spinning rate, and you can't blame it on the COVID-19 pandemic anymore.
Why a Huge Budget Deficit Might Be Good News for California
California is facing a projected deficit of $68 billion, a larger amount than the entire annual budget of the state of Florida.
America Is Taking a High-Speed Train to Bankruptcy
Every dollar wasted on political pork, fraud, and poorly considered infrastructure makes the country’s fiscal situation even worse.
Congress Is Trying To Avoid Taking Responsibility for the Debt Crisis It Created
A fiscal commission might be a good idea, but it's also the ultimate expression of Congress' irresponsibility.
Congress Admits It Has a Debt Problem, but Will It Do Anything?
Servicing debt grows more expensive as the deadline to curb the spending spree gets closer.
After Moody's Warning, Federal Officials Continue To Ignore Fiscal Reality
Moody's calculates that interest payments on the national debt will consume over a quarter of federal tax revenue by 2033, up from just 9 percent last year.
