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.
Deficits
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.
The Supreme Court Will Hear a Second Challenge Over Biden's Student Loan Forgiveness Plan
As the Court agrees to take up yet another case against the Education Department's loan forgiveness plan, Biden's goal of forgiving billions in student loans seems increasingly doomed.
Biden's Spending Spree Is Unprecedented
Instead of redirecting course, Biden is continuing Trump’s spending legacy.
The Pilgrims Dreamed of Socialism. Then Socialism Almost Killed Them.
Private property was the solution to their failed experiment. But people keep repeating the Pilgrims' mistakes.
Republicans Need an Actual Plan To Grow the Economy
The biggest beneficiaries of economic growth are poor people. But the deepest case for economic growth is a moral one.
Biden's Student Loan Forgiveness Plan Is Unconstitutional, Says Federal Judge
Plus: Users surge on decentralized social media platform Mastodon, the fall of city drugstores, and more...
A GOP-Led Congress May Focus on Owning the Libs. Instead, It Should Focus on Owning Inflation.
If the midterms favor Republicans, their top priority needs to be the fight against inflation—whether or not they feel like they created the problem.
Twitter Was Already a Hellscape Even Before It Was Set Free
Plus: For Halloween, the editors describe what scares them most about politics and government right now.
Polling Data Suggest That Student Loan Debt Relief Is Not Very Important to Young Voters
The new survey, released by Data for Progress, could spell trouble for Democrats hoping for gains in November following Biden's debt relief plan.
Drugs, Debt, and Masculinity
Plus: The editors wade into the conversation surrounding the modern dilemmas men face.
The Political Class Has Consistently Ignored Warnings of Fiscal Doom. Now Americans Are Paying the Price.
Warnings of inflation and rising interest rates have long been tied to high and rising debt levels.
Here's Why Biden Is Wrong About the Deficit
His administration has expanded deficits by $400 billion more than expected, even before we count recent spending.
Biden's Student Loan Debt Forgiveness Plan Now Estimated To Cost $400 Billion
According to a new report for the Congressional Budget Office, student loan debt forgiveness will likely completely wipe out gains made by the Inflation Reduction Act—and then some.
Expected Interest Rate Hike Will Add $2 Trillion to the Deficit
So much for the idea that low interest rates meant the government could borrow endlessly with no consequences.
As Inflation Soars, Biden Hosts Cringey Concert Celebrating the Inflation Reduction Act
James Taylor croons while the stock market burns after another ugly report on inflation.
Why Forgiven Student Loan Debt Should Probably Be Taxed as Income
In six states, accepting student loan forgiveness is likely to result in an increased tax bill.
What Would It Take for the Democrats To Really Be the Party of Opportunity?
Government should not penalize investment, thwart competition, discourage innovation and work, or obstruct production.
Student Debt Forgiveness Folly
Plus: The editors field a listener question on abortion.
