Biden's Attempts To Forgive Student Debt Were a Disaster
While the administration was fighting for debt forgiveness in court, it was also rolling out a broken FAFSA application form.
Debt
Federal Government Has 'Grown Too Big, Promised Too Much, Subsidized Too Many,' Warns Former GAO Boss
This week's House Budget Committee hearing showed bipartisan agreement about the seriousness of America's fiscal problems.
Keeping These Tax Cuts Is a Bad, Expensive Idea
Everyone loves lower taxes, but cutting them without reducing spending is bad news for the national debt.
Bidenomics Goes Out With a Whimper
There's a good reason Biden eventually stopped saying Bidenomics. Americans didn't like the results of his economic policies.
The Hidden Costs of Capping Credit Card Interest Rates
A rate cap could leave millions scrambling for alternatives in an increasingly cashless economy.
Promises To Cut $2 Trillion Clash with Trump's Expensive Plans
Ambitious budget cuts will meet political reality in Trump’s second administration.
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.
DOGE's Chances Are Slim, but It Might Be Our Only Hope
Congress and the president show no interest in cutting government. Maybe outsiders can get it done.
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.
Where Is Trump's Plan To Cut Spending?
The former president says the government should be funded like it was in 1890. So where's the plan to reset spending to 1890s levels?
Donald Trump and Kamala Harris Keep Making Economically Illiterate Promises
These policies may sound good on paper—but they would be disastrous in reality.
To Get Through the Election, Smoke a Cigarette
This election is all about pursuing short-term political highs while willfully ignoring long-term problems. What could pair better with that than a cigarette?
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.
Universal Basic Income Shows Why Giving People 'Free Money' Doesn't Work
According to recent data, people work less—and actually end up deeper in debt.
Justice Department Says a Small Mississippi Town Ran a Dickensian Debtor's Prison
Federal investigators say police in Lexington, Mississippi, used illegal searches, excessive force, and kept residents in jail when they couldn't pay off old fines.
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.
Trump and Biden Agree: Just Call Debt 'Wealth' Instead!
Both party leaders are selling the idea of a sovereign wealth fund, but it’s more political fantasy than fiscal fix.
Trump and Harris' Economic Plans Are Depressingly Similar
Both campaigns represent variations on a theme of big, fiscally irresponsible, hyper-interventionist government.
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.
The U.S. Can't Afford To Cut Taxes on Social Security Benefits
The campaign promise from Donald Trump sounds nice, but it would be disastrous when considering the program is already racing toward insolvency.
Lessons for the U.S. from Japan's Lost Decade
Facing an economic downturn in the 1990s, Japan racked up debt. America should not repeat that mistake.
The Real Economic Catastrophe Will Be Caused by the U.S. Debt
Should we blame Biden and the politicians applauding him for their unwillingness to address our looming fiscal disaster?
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.
Have Republicans Abandoned Free Markets?
Reason's Emma Camp attended the Republican National Convention to ask attendees if they still believe in the power of free markets.
We Showed Trump Voters the National Debt
We asked delegates at the Republican National Convention whether a second Trump term would address America's debt problem.
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.
The Best of Reason: Why Did Americans Stop Caring About the National Debt?
Both parties—and the voters—are to blame for the national debt fiasco.
Republicans Hammer Biden on Inflation. But Do They Have a Better Plan?
Opening night of the Republican National Convention programmed a central issue with a Trumpian twist: "Make America Wealthy Again."
Why Did Americans Stop Caring About the National Debt?
Both parties—and the voters—are to blame for the national debt fiasco.
The 2024 GOP Platform Promises To 'Make America Affordable Again.' So Why Are They Embracing Fiscal Insanity?
Although former President Donald Trump's deregulatory agenda would make some positive changes, it's simply not enough.
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.
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.
At the Presidential Debate, Biden Says He 'Beat Medicare'
Biden's incoherence and Trump's comparatively cogent lies demonstrate just how poorly the two-party system serves supporters of small government.
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.
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.
Biden Keeps Blaming Others for His Economic Mistakes
The president has tried to shift blame for inflation, interest rate hikes, and an overall decimation of consumers' purchasing power.
The GOP Once Claimed To Be the Party of 'Fiscal Responsibility.' So Why Not Reform Social Security?
Reasonable options include gradually raising the minimum retirement age, adjusting benefits to reflect longer life expectancies, and implementing fair means-testing to ensure benefits flow where they're actually needed.
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.
The Congressional Budget Office's Alternative Scenarios Forecast a Dire Economic Picture
Why aren't politicians on both sides more worried than they seem to be?
No One Can Make Government Work
If businesses don't serve customers well, they go out of business. Government, on the other hand, is a monopoly.
This Tax Week, Remember That the Federal Income Tax Is Relatively New
There are many pervasive myths about the U.S. tax code. Here are a few.
U.S. Defense Spending Continues To Spiral Out of Control
Increased spending does not automatically equate to higher quality—something that is often lost in this debate.
Poll: Americans Don't Think All This Government Is Worth What We Pay for It
The situation is more dire when you consider how much federal spending is financed by debt.
Biden Announces Second Attempt at Widespread Student Loan Forgiveness
The new plan is much less ambitious than the president's 2022 blanket forgiveness effort, mostly relying on an expansion of previous smaller-scale debt cancelation schemes.
