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.
Plus: Josh Hawley's latest terrible idea, sex work divides NOW, Gary Johnson's 2020 endorsement, and more...
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.
Plus: Fashion versus the police state, a truce in the Kansas-Missouri border war, and more....
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
America will face "serious economic, security, and social challenges" if the national debt keeps growing at this rate.
The feds are $234 billion in the red. Looking for hope? Sen. Mike Enzi has some ideas.
A new record, but one that won't stand for long.
From OMB head Mick Mulvaney to former Treasury Secretary Larry Summers, nobody cares about spending money we don't have on things we don't need. Big mistake.
Or the $22 trillion (and counting) national debt. Or the entitlement programs that will continue adding to them.
How would you like it if nearby strangers could instantly access your credit score on their phones?
Proponents of jacking top marginal income tax rates such as AOC ignore how hard it is to actually boost revenue over the long haul.
You can't have it both ways.
Growth alone won't get us out of this mess.
Do you care about free minds and free markets? Sign up to get the biggest stories from Reason in your inbox every afternoon.
This modal will close in 10
