So much for the idea that low interest rates meant the government could borrow endlessly with no consequences.
This fiscal irresponsibility throws gasoline on the country's already raging inflation fire.
James Taylor croons while the stock market burns after another ugly report on inflation.
Unsurprisingly, wealthier Americans will be the prime beneficiaries of the White House's soon-to-be-announced student loan forgiveness scheme.
But it will raise taxes and sic thousands of new IRS agents on American households.
Many conservatives no longer appear to care much for fiscal conservatism.
Congress has added $2.4 trillion to the long-term deficit since President Joe Biden took office. Now they want credit for reducing the deficit by $300 billion?
If you believe that moving most of our chip production onshore is good for national security, you should labor for regulatory reforms rather than subsidies.
The proposal reportedly hikes taxes by over $730 billion, with $300 billion of that money to be used for reducing the federal budget deficit.
Dissecting the president's misleading claims about falling deficits
Rising interest rates will only make it harder to balance the budget in future years.
...and why government spending is like an infestation of cicadas.
The president is trying to claim credit for falling deficits. Actually, his administration has overseen a $2.4 trillion increase in the long-term deficit.
Under current policies, Social Security and Medicare will consume 85 percent of all federal tax revenue by 2050.
Democrats hail the new budget agreement as "the largest increase in non-defense discretionary spending in four years" while Republicans tout a big boost in military spending. Everyone wins!
Biden made some vague promises about deficit reduction during Tuesday's State of the Union address. They don't add up.
But Washington just keeps hitting the snooze button.
Enough with the budget gimmicks. It's time for Democrats to admit that Biden's proposal is a long, long way from being fully paid for.
If all the Build Back Better plan's proposals were made permanent, the final price tag would be $4.8 trillion and the bill would add about $2.8 trillion to the deficit.
The legislation will have a negative impact on the labor supply and send high prices soaring even higher.
The Congressional Budget Office's analysis of the bill is unlikely to prevent its passage through the House. A vote could happen later tonight.
The cost of interest on the national debt will soon be a huge chunk of change.
"Spending trillions more on new and expanded government programs, when we can't even pay for the essential social programs...is the definition of fiscal insanity."
Among Americans who aren't liberal pundits, the debt and deficit rank as major concerns. It's about time Congress noticed.
Taxing the Rich Isn't Enough to Pay for Democrats' Welfare State. They'll Need To Soak the Middle Class Too.
There simply aren't enough rich people to finance all the new spending.
The federal health care program is on track for a trust fund shortfall in just five years. But instead of paying for the program that exists, Democrats want to expand it.
The Bipartisan Infrastructure Bill Will Add More Than $250 Billion to the Deficit. Does Anyone Care?
A CBO report that might have sunk legislation in an earlier era was greeted with a bipartisan shrug.
The spending proposal is likely to be offset by gimmicks and rosy assumptions.
The Bipartisan Infrastructure Bill Shows That Republicans Love Big Government Just as Much as Democrats
We don't have a gridlock problem. We have a spending problem.
Many Politicians Claim That Increased Spending Sparks Economic Growth. Here's Why That's Misleading.
A new study finds that as the government expands, the private sector shrinks.
The spending plan demonstrates an unwillingness to govern and a preference for pandering to special interests.
In Biden's plan, the government would consume a historically large share of the economy—and those taxes still wouldn't be enough to pay for everything
Maybe drawings can deter elected officials from their outrageous spending habits where detailed reports have failed to attract their attention.
Legislators view the disease as a license to spend like there’s no tomorrow.
Joe Biden's spending bill is a Democratic Party wish list masquerading as a public health measure.
Plus: Another journalist fired after disagreeing with woke orthodoxy, U.S. COVID death toll passes 500,000 mark, and more...
The president has proposed spending $1.9 trillion on another pandemic relief bill. Moderate GOP senators are countering with a $600 billion plan of their own.
Neera Tanden, Biden's Pick for Budget Office: Now Is Not the Time To 'Worry About Raising Deficits and Debt'
She once suggested that if Americans care about the deficit so much, maybe we should make Libya pay for it.
There's a fox, a goose, and a bag of grain. And a hippopotamus in the middle of the river.
The Congressional Budget Office warns that higher levels of debt will slow economic growth significantly in the years ahead.
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.
Senate Republicans' $1 Trillion COVID-19 Relief Bill Includes Billions for New Fighter Jets, Attack Helicopters, and Missiles
Much of the military spending in the GOP's HEALS Act replaces funding that was redirected to pay for Trump's border wall.
Rand Paul on Republican Plans for Another Coronavirus Stimulus Bill: 'They Simply Don't Care About the Debt'
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.