America's $30 Trillion Publicly Held Debt Is 42 Times Larger Than It Was in 1980
Democrats defend every entitlement and dream up new benefits. Republicans demand more defense spending and still more tax cuts.
Budget Deficit
After All Those DOGE Cuts, Federal Spending Still Increased by $300 Billion
For the fiscal year that ended on September 30, the federal government spent more than $7 trillion and ran a $1.8 trillion deficit.
Here's What Would Happen If We Seized All the Wealth From America's 800 Billionaires
Don't comfort yourself with wishful thinking that millionaires and billionaires could take the entire burden of the deficit off our hands.
Audit Finds $400 Million in Questionable Lease Spending After Maryland's Governor Bragged About Savings
A costly lease for the Maryland Department of Health, along with other findings in a state audit, raises questions about the millions in savings touted by Maryland Gov. Wes Moore.
We're Lying to Ourselves About Taxes, Spending, and the Debt
It's time to ask what level of spending Americans truly want with the money we actually have.
Could New York Go Bankrupt Again?
Financial historian and attorney Richard E. Farley explains how political games, union power, and creative accounting tanked New York City in 1975—and why it could happen again.
Trump Doesn't Need To Fire Jerome Powell. He Needs To End America's Spending Addiction.
The executive branch wants to use the Federal Reserve as a tool to accommodate the government's frenzy of reckless borrowing.
The $4 Trillion 'Big, Beautiful Bill' Breaks the Bank and Violates Congress' Own Budget Rules
This is what Washington calls compromise: The House proposes $1, the Senate proposes $2, and somehow, the government ends up spending $3.
Why the 'Current Policy' Baseline Is a Massive Gimmick That Effectively Kills the Filibuster
Republicans are creating a budgetary loophole that will allow Democrats to pass Medicare for All and pretend it costs almost nothing.
America Party
Plus: What the socialists don't understand about childcare, the current state of Iran's nuclear capabilities, and more...
Senate's Tax Bill Will Add $270 Billion to the Deficit Next Year, Despite Gimmicks
The House-passed version of the One Big Beautiful Bill Act was fiscally irresponsible. The Senate has made the bill worse.
Big, Beautiful Bill Finds Its Opponents
Plus: The anti-socialist moment, muscle-building drugs counteract Ozempic, arsony gunman in Idaho, and more...
Why Do Republicans Support the Low-Income Housing Tax Credit?
Publicly funded homes in some cities are costing taxpayers more than $1 million per unit, but Trump’s “big, beautiful bill” would increase funding for these inefficient projects.
The 'Big Beautiful Bill' Will Require Even More Borrowing Than Previously Thought
After accounting for the dynamic effects of the Trump-backed tax bill, the CBO concludes it will add $2.8 trillion to the deficit over 10 years.
Trump's 'Big, Beautiful' Military Parade Is a Big, Ugly Waste of Millions of Dollars
Most Americans, it turns out, do not think it is a good use of taxpayer money, according to a recent poll.
Here Are 3 Reasons Why the 'Big Beautiful Bill' Won't Generate 3 Percent Growth
The White House is promising higher growth, but tariffs, borrowing, and rising interest rates will be a drag on those expectations.
Another Divorce for Trump
Plus: A cynical take on Zohran Mamdani, Florida's drinking water threatened, and more...
The 'Big Beautiful Bill' Will Add $2.4 Trillion to the Deficit
That total will rise to about $3 trillion once the interest costs of more borrowing are included.
Belated Republican Objections to the One Big Beautiful Bill Glide Over Its Blatant Fiscal Irresponsibility
House members who discovered objectionable elements only after voting for the package nevertheless underline the unseemly haste of the legislative process.
DOGE's Newly Listed 'Regulatory Savings' for Businesses Have Nothing to Do With Cutting Federal Spending
DOGE says regulatory changes will save $29.4 billion, but that does not amount to a reduction in government outlays, the initiative's ostensible target.
Elon Musk Is Right. The 'Big Beautiful Bill' Is a Bad Deal.
Musk's opinion about the bill matters, since he is one of the few people in conservative politics who can get away with defying Trump.
How Does the National Debt Affect You? A Budget Expert Explains.
Higher debt means lower wages, higher interest rates, and fewer opportunities, says Romina Boccia of the Cato Institute.
America's Credit Is Falling—and the Government Is Still Digging Deeper Into Debt
The lesson from the Moody's credit downgrade is that the U.S. cannot borrow its way to prosperity.
Not Even the Moody's Downgrade Can Make Republicans Take the National Debt Seriously
Friday's announcement by Moody's and the House Budget Committee vote could have been a turning point.
Republican Reconciliation Package Will Lead to $3 Trillion Annual Deficits
A new analysis from the Committee for a Responsible Federal Budget estimates that the national debt will equal nearly 130 percent of GDP by 2034.
Trump's New Budget Is Another Blueprint for Big Spending
We don't need more of the same. We need evidence of a serious turnaround.
Elon Musk Discovers That Serious Spending Cuts Are 'Really Difficult'
As he shifts his focus away from DOGE, he acknowledges the need for hard choices and congressional action.
Even by Elon Musk's Own Demonstrably Unreliable Estimation, DOGE Will Fall Far Short of His Target
The cost cutter's current projection of annual "savings" is 85 percent lower than the goal he set two months ago—and even that number can't be trusted.
Feds Borrowed $1.3 Trillion in the First 6 Months of This Fiscal Year
That's the highest total outside of the COVID-19 pandemic, and now Congress wants to borrow even more.
Milton Friedman's Warning to DOGE
The Nobel Prize-winning economist says the Iron Triangle of Politics must be defeated to cut down the government for good.
The Logical Contradictions of Trump's Case for Tariffs
Taxes on imports cannot possibly deliver all the benefits the president is promising.
Gold Tops $3,000
Despite efforts to rein in government debt, gold prices keep rising—suggesting investors aren’t buying the promises of fiscal responsibility.
How Pokémon Helps Explain DOGE
Musk's fans and critics will keep debating whether DOGE is revolutionizing government or wrecking important institutions.
Elon Musk, Who Promised To Be 'Maximally Transparent,' Makes DOGE's Numbers Even Harder To Check
The cost-cutting initiative's calculation of "estimated savings" is mostly mysterious, and the parts we know about are riddled with errors.
Congress and DOGE Can Find Spending Cuts at the Department of Defense
The U.S. can defend itself at a lot less expense.
Yes, Cutting Government Waste Is Important
Entitlements are a much bigger expense, but that doesn't mean the waste doesn't matter.
Contrary to What Trump Said, Even DOGE Does Not Claim To Have Identified 'Hundreds of Billions' in Fraud
The president's assertion is divorced from reality, and so are the "estimated savings" touted by Elon Musk.
Trump Promised a Balanced Budget. Don't Believe It.
It's great to have presidents talking about the need for a balanced budget, but Republicans are backing a plan that will increase borrowing.
DOGE and Congress Should Look Hard at Reforming Social Security
Means-test Social Security, raise the retirement age, and let us invest our own money.
Trump Promised To Lower Prices. Will Congress Help Him Deliver?
At the current rate of inflation, the dollar will lose 33 cents of purchasing power within a decade.
Elon Musk, Who Supposedly Is Running DOGE, Is Not Officially in Charge of Anything
The presidential adviser's lack of formal authority complicates his cost-cutting mission.
The House GOP Budget Blueprint Promises More Borrowing, More Debt, and Not Enough Spending Cuts
"If the Republican budget passes, the deficit gets worse, not better," says Rep. Thomas Massie. He's right.
Americans Say Government Is Corrupt and Inefficient but Are Lukewarm About DOGE
Democrats seem willing to tolerate a lot to get a larger government, but Republicans aren’t much better.
Meaningful Pentagon Cuts Will Require Rethinking What 'Defense' Means
If Defense Secretary Pete Hegseth is serious about reducing military spending, he will need to embrace a narrower understanding of national security.
The New Republican Budget Plan Is Unserious
It tries to offset as much as $4.8 trillion—mostly for tax cut extensions—with only $1.5 trillion in supposed spending reductions.
Rand Paul Wants DOGE To Build a $500 Billion Rescission Package for Congress To Approve
"The only way you get less waste is to give them less money to spend," says the libertarian-adjacent senator from Kentucky.
