Beware the COVID-19 Debt Hangover
Biden's proposed stimulus spending might give a modest boost, but in the long run it'll slow the economy.
Biden's proposed stimulus spending might give a modest boost, but in the long run it'll slow the economy.
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Despite Elizabeth Warren's contention that it is the "single most effective economic stimulus that is available through executive action," forgiving student debt is a bad idea.
She once suggested that if Americans care about the deficit so much, maybe we should make Libya pay for it.
The president-elect promised record levels of spending and taxes on the campaign trail. Will he succeed?
Trump plans to steal less of other people’s cash then Biden does, though neither has any serious suggestions for paying for their spending schemes.
There's a fox, a goose, and a bag of grain. And a hippopotamus in the middle of the river.
Even without further spending increases, the Congressional Budget Office projects that the national debt will hit 107 percent of GDP in 2023.
The Congressional Budget Office warns that higher levels of debt will slow economic growth significantly in the years ahead.
Skyrocketing debt, higher borrowing costs, and a hobbled economy are predicted in the latest Congressional Budget Office report.
Biden is proposing about $3 trillion in new taxes, mostly on the rich, to pay for up to $11 trillion in new spending. That's a recipe for even bigger budget deficits.
The Congressional Budget Office says the deficit will hit $3.3 trillion this year. The national debt will exceed the size of America's gross domestic product for the first time since the end of World War II.
Research suggests reducing spending will boost consumption in the short- and long-run.
The next Democratic president will be all too happy to govern by pen and phone too, say the Reason Roundtable podcasters.
Congress is currently debating what should be included in the next trillion-dollar (and counting) stimulus bill, but nothing is likely to pass this week.
Debt held by the public equals about 100 percent of GDP. That's hurting growth and will fuel a major crisis.
It's obvious that there will be more government spending in response to the coronavirus, but distinguishing the essential from the nice-to-have is more important than ever.
And more coronavirus stimulus spending could send that number soaring higher.
Having failed to be fiscally responsible when it would have been relatively easier, our elected officials will now likely hike spending even further.
There was a deficit of debt talk at the conservative conference.
Instead of taking a little off the top, Trump needs to give farm subsidies a buzz cut.
"Absent policy changes, the federal government continues to face an unsustainable long-term fiscal path," America's top auditor warns. But is anyone listening?
And whether it balances at all depends on some creative accounting. Meanwhile, it proposes $2 billion in new spending on the border wall.
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The president likes things big, so that apparently applies to government budgets too.
America will have to pay for its spending spree and its wars.
The problem, as always, is that voters are likely to say they want Congress to balance the budget, but are less likely to back any specific ideas for doing so.
Donald Trump, Democrats, and Republicans agree on trillion-dollar deficits for as far as the eye can see.
Neither party is serious about reining in spending. This is unsustainable.
In three years in office, Trump has added more to the national debt than President George W. Bush did in his entire two terms.
Will tonight be any different or more of the same?
The conservative radio host says he is running for president because Trump is “erratic" and "cruel." But Walsh has his own history to live down.
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The $866 billion budget gap so far this fiscal year represents a 27 percent increase over the same period last year.
The idea that "deficits don't matter" has been growing among Trump-supporting Republicans. Democrats are preparing to take full advantage.
CNN doesn't think Americans deserve to hear potential presidents asked about the national debt.
Members of Congress are well aware of the looming threat of the $22 trillion (and growing) national debt, but seem incapable of doing anything except making it worse.
The island's residents have had enough of a territorial government tainted by corruption and that is seemingly contemptuous of their daily struggles.
The House Freedom Caucus could reverse its trend towards irrelevancy by successfully swaying Trump to turn against the new budget deal.
If President Donald Trump signs the deal into law, he will have authorized a 22 percent increase in federal discretionary spending during his first term in office.
The federal government will spend $57 trillion over the next 10 years and run an $11 trillion deficit. But cutting spending by $150 billion is too much to ask?
The pundit heavily criticized President Obama for excessive spending. Now he says it doesn't matter.
The national debt will hit 140 percent of GDP before the end of the 2040s, and that's the optimistic scenario.
A new book explores how America's criminal justice system heaps debts on those who can't possibly pay.
"Show me the majority for cutting spending," he says.
Paul's proposal to cut 2 percent from the federal budget for the next five years was predictably opposed by both Democrats and most Republicans