Debt Ceiling Deal Curtails GOP-Backed Budget Cuts, Spending Caps
The deal will freeze non-military discretionary spending this year and allow a 1 percent increase in 2024.
Deficits
Taxing the Rich Will Have No Meaningful Effect on Our Sky-High National Debt
The U.S. tax system is extremely progressive, even compared to European countries—whose governments rely on taxing the middle class.
The Two Faces of Ron DeSantis
Sometimes he calls for freedom, and sometimes he preaches something darker.
Worried About the Debt Fight? Make the Hard Spending Decisions That Politicians Won't!
The debt ceiling isn’t the issue; excessive federal spending is the real problem.
Conservatives Pushing 'Common Good Capitalism' Sound a Lot Like Progressives
The ideology champions the same tired policies that big government types predictably propose whenever they see something they don't like.
There Is No Party of Immigration in American Politics
Plus: A listener question concerning the key to a libertarian future—should we reshape current systems or rely upon technological exits like bitcoin and encryption?
The Debt Ceiling Fight Is a Reminder of America's Dire Fiscal Future
The longer we wait to address our debt, the more painful it will be.
Biden Falsely Bragged About Lowering the Budget Deficit. Now, It Is Predictably Rising Again.
Last year, Biden was trying to take credit for "the largest drop ever" in the federal budget deficit. Now, the deficit is almost three times as large as it was a year ago.
Biden, Yellen Won't Rule Out Declaring Debt Ceiling Unconstitutional
Plus: Kansas voting restrictions struck down, the legacy of the "vast wasteland" speech, and more…
This California Bill Would Mandate Punishment of Marijuana Debtors Without a Hearing
To address an "unpaid debt bubble," the proposed law would dictate contract terms and require regulators to intervene in commercial disputes.
The Clock Is Ticking: U.S. Could Default on Debt Payments by June 1
It's time for President Joe Biden and House Speaker Kevin McCarthy to strike a deal that will avoid a default and cut spending.
Joe Biden Wants 4 More Years 'To Finish the Job.' What Job?
Plus: A listener question scrutinizing current attitudes toward executive power
Don't Believe the Media Fearmongering About Spending Cuts
In 2019, discretionary spending was $1.338 trillion—or some $320 billion less than what Republicans want that side of the budget to be.
The House GOP Debt Ceiling Plan Would Restore Spending Caps. Good.
The most important part of the Limit, Grow, Save Act is the limits.
The Biden Administration Reduced the Debt-to-GDP Ratio in the Worst Possible Way
The main driver behind the reduction is inflation—inflation that politicians created with their irresponsible spending.
Heaton Fixes the Student Debt Crisis
How to—and how not to—help solve the college debt problem.
The Federal Reserve Was Supposed To Ease Economic Instability. Instead, It's Made It Worse.
A responsible political class would significantly reform the organization. Instead, they will likely continue to give it more power.
Social Security Will Be Insolvent by 2033
New data from the program's trustees show that insolvency will hit a year sooner than previously expected, giving policy makers just a decade before automatic benefit cuts occur.
Poll: Most Americans Don't Think a College Degree Is Worth the Cost
56 percent agreed that "people often graduate without specific job skills and with a large amount of debt to pay off."
To Balance the Budget, Republicans Must Cut Military Spending, Trim Entitlements, or Raise Taxes
If Republicans refuse to gore their three sacred cows, a new CBO report shows that balancing the budget is literally impossible.
Congress Hasn't Passed a Budget on Time in 27 Years
Congress' end-of-year rush to fund the federal government has become the norm.
Biden's New Budget Would Hike Taxes and Wage Class Warfare
The higher taxes on small businesses and entrepreneurs could slow growth. Less opportunity means more tribalism and division.
Joe Manchin Is Once Again Telling Republicans and Democrats What They Don't Want To Hear
But it's exactly what they need to start talking about.
No, the HEROES Act Doesn't Let Biden Forgive Student Loans
"If it was an emergency, why wait three years to provide the forgiveness? Why present it in a political framework, as fulfilling a campaign promise?" said one higher education expert.
Paul Krugman Says Social Security Is Sustainable. It's Really Not.
Krugman sees benefit cuts as "a choice" but believes that implementing a massive tax increase on American employers and workers would be "of course" no big deal.
Did Biden Just Commit America to Another Forever War in Ukraine?
Plus: the editors field a listener question on intellectual property.
Want Less Corruption? Try Having Smaller Government.
People can never be made incorruptible. We can, however, design governmental systems filled with checks and balances that limit the temptations.
Social Security and Medicare Cuts Are Coming, Whether Politicians Do It or Not
As legislators refuse to act, benefits will be cut without any possibility of sheltering those seniors who are poor.
U.S. Will Add $18.8 Trillion in New Debt by 2033
Plus: Age verification for social media, a bill to ban cannabis "gatherings," and more...
The Fight Over the Debt Ceiling Is Just Beginning
Legislators will increasingly argue over how to spend a diminishing discretionary budget while overall spending simultaneously explodes.
Mike Pompeo Says He 'Grew Up Libertarian'
These days, he may run for president. His politics have changed.
Biden Promises To Let Social Security's Ship Keep Sinking
Biden vowed to block any attempts to cut Social Security benefits, and Republicans made it clear that they have little appetite to try it.
COVID Stimulus Spending Played 'Sizable Role' in Inflation
Fiscal stimulus during the pandemic contributed to an increase in inflation of about 2.6 percentage points.
Are We Making Any Progress on Police Brutality?
Plus: The editors consider the ongoing debt ceiling drama and answer a listener question about ending the war on drugs.
If Republicans Want To Cut Spending, They Should Start With the Pentagon
Sen. Rand Paul says Republicans "have to give up the sacred cow" of military spending in order to make a deal that will address the debt ceiling and balance the budget.
Social Security Is on the Brink of Collapse. The GOP Won't Touch It.
In 1950, there were more than 16 workers for every beneficiary. In 2035, that ratio will be only 2.3 workers per retiree.
The GOP's Current Plan To Cut Spending Is a Political Failure
Social Security, Medicare, and Medicaid are still the chief drivers of our future debt. But Republicans aren't touching them.
They Fell Behind on Their Property Taxes. So the Government Sold Their Homes—and Kept the Profits.
The Supreme Court has agreed to hear 94-year-old Geraldine Tyler's case challenging home equity theft.
Cutting Government Back to Last Year's Size Shouldn't Be 'Impossible' or 'Severe'
Taking stock of the utterly unserious fiscal policy discourse in Washington.
To Win the Speakership, Kevin McCarthy Had To Promise To Cut Spending. Good.
While some Republicans may have had misguided motivations, a few disrupted McCarthy's campaign in order to enact fiscal restraint. Their colleagues were fine with business as usual.
Why Are Some Republicans Revolting Against Kevin McCarthy's Bid To Be Speaker of the House?
The insurgent Republicans want to balance the budget, impose new barriers to immigration, and increase transparency for future earmark spending.
Congress and the Federal Reserve Could Be Setting Us Up for Economic Disaster
If lawmakers keep spending like they are, and if the Fed backs down from taming inflation, then the government may create a perfect storm.
Congress Can Reduce the Deficit by $7.7 Trillion in 10 Years
The Congressional Budget Office projects that future deficits will explode. But there's a way out.
$70 Million for Salmon, $3 Million for Bee-Friendly Highways, and More Absurdities in the Omnibus Spending Bill
Plus: An attempt to criminalize porn, D.C. hopes making tourism more expensive will boost tourism, and more…
Why Does Funding Government Take $1.7 Trillion and 4,000 Pages?
Plus: Title 42 order termination is on hold, the FTC vs. Meta, and more...
The Annual, Depressing 'Do Your Job Week' in Congress
Plus: The editors extend the discussion on the lack of immigration reform in this week’s bill.
Biden's Loan Forgiveness Plan Ultimately Means Higher Costs for Higher Ed
If political pressure to forgive debt can work once, why wouldn't it work again every five or 10 years?
November's $249 Billion Federal Budget Deficit Set a Record. Now, Congress Is Preparing To Spend Even More.
The government spent $501 billion in November but collected just $252 billion in revenue, meaning that about 50 cents of every dollar spent were borrowed.
