At the Presidential Debate, Biden Says He 'Beat Medicare'
Biden's incoherence and Trump's comparatively cogent lies demonstrate just how poorly the two-party system serves supporters of small government.
Budget
America Is in a Debt Crisis. Will Trump or Biden Address It at the Debate?
The candidate who grasps the gravity of this situation and proposes concrete steps to address it will demonstrate the leadership our nation now desperately needs. The stakes couldn't be higher.
Federal Budget Deficit Forecast Jumps $400 Billion, Fueled by Student Debt Forgiveness
The Congressional Budget Office reports the 2024 budget deficit will near $2 trillion.
The Supreme Court May Be on the Brink of Radically Restricting Bureaucrats' Power
Chevron deference, a doctrine created by the Court in 1984, gives federal agencies wide latitude in interpreting the meaning of various laws. But the justices may overturn that.
The National Debt Is Now So High That Every American Essentially Owes $100,000
We could grow our way out of our debt burden if politicians would limit spending increases to just below America's average yearly economic growth. But they won't even do that.
Congress' Budget Process Is Broken. Here's One Idea for Fixing It.
Lawmakers should be freed from "the dead hand of some guy from 1974," says former Congressional Budget Office director.
Congress Yet Again Abuses 'Emergency Spending' for Non-Emergency Purposes
Let's just call this what it is: another gimmick for Congress to escape its own budget limits and avoid having a conversation about tradeoffs.
Say No to This: America's Fiscal Norms Are in Decline
Despite their informal nature, those norms have historically constrained U.S. fiscal policy. But they're eroding.
A GOP Plan To Raise the Retirement Age Reveals How Unserious Washington Is About Social Security
An obvious, tepid reform was greeted with shrill partisan screeching.
The National Debt Is a National Security Issue
The growing debt will "slow economic growth, drive up interest payments," and "heighten the risk of a fiscal crisis," the CBO warns.
A Bipartisan Tax Hike Won't Fix This Deficit
The government needs to cut back on spending—and on the promises to special interests that fuel the spending.
Republicans Use Fuzzy Math To Claim Large FBI, ATF Cuts in Budget Bill
The total appropriations package would cut $200 billion over 10 years, as the national debt expands by $20 trillion.
New Budget Deal Includes $12 Billion 'Cut' That Doesn't Actually Cut Anything
Anatomy of a budget gimmick.
Congress Wastes Billions With Bogus Emergency Declaration
And it isn't the first time.
'Super' Week
Plus: A partial budget deal, Super Tuesday, the State of the Union, Harris calls for a cease-fire, and more...
Brian Riedl: Who Bankrupted Us More—Trump or Biden?
"I'm concerned about a Trump-Biden rematch," argues Riedl. "You have two presidents with two of the worst fiscal records of the past 100 years."
Is Another Government Shutdown Coming?
Next week, Congress will have to choose between a rushed omnibus bill or a long-term continuing resolution that comes with a possible 1 percent spending cut.
Shrinkflation Is Real—and It's Largely Biden's Fault
The president criticized companies for selling "smaller-than-usual products" whose "price stays the same." But it was his and his predecessor's spending policies that caused the underlying issue.
Biden's Cognitive Shrinkflation
Plus: A listener asks if the state of Oregon’s policy on drug decriminalization should be viewed as a success.
Immigration Could Reduce the Deficit by at Least $1 Trillion Over the Next Ten Years
But the Congressional Budget Office projection assumes we will not cut immigration levels, as is likely to happen if Trump returns to power.
Federal Government Will Borrow Another $20 Trillion in the Next Decade
Three things to know about the new Congressional Budget Office report on the growing federal deficit.
How Increasing Immigration Can Reduce the Deficit
And why the Congressional Budget Office does a poor job of making those estimates.
David Stockman: Trump's War on Capitalism and Freedom
Reagan's former budget director says Donald Trump killed prosperity—and the GOP's core beliefs in capitalism and freedom.
Interest Rates Are High. GOP Presidential Candidates Need To Get Serious About It.
They will either reduce the ability to spend money or to cut taxes.
The Trump Train Rolls Through Iowa
Plus: A listener asks the editors if there are any bad laws that might discourage people from having kids.
Why a Huge Budget Deficit Might Be Good News for California
California is facing a projected deficit of $68 billion, a larger amount than the entire annual budget of the state of Florida.
All I Want for Christmas Is for Congress To Exercise Fiscal Restraint
Lawmakers can take small steps that are uncontroversial and bipartisan to jumpstart the fiscal stability process.
Welcome to the Hyperbole Factory
Plus: A listener asks the editors to consider the libertarian argument against shopping local.
Congress Is Trying To Avoid Taking Responsibility for the Debt Crisis It Created
A fiscal commission might be a good idea, but it's also the ultimate expression of Congress' irresponsibility.
Congress Admits It Has a Debt Problem, but Will It Do Anything?
Servicing debt grows more expensive as the deadline to curb the spending spree gets closer.
Here's One Way To Move Toward Responsible Government and Sane Fiscal Policy
The Copenhagen Consensus has long championed a cost-benefit approach for addressing the world's most critical environmental problems.
The U.S. Needs a Fiscal Commission Because Congress Won't Do Its Job
In the last 50 years, when the budget process has been in place, Congress has managed only four times to pass a budget on time.
20 Years to Disaster
"The United States has about 20 years for corrective action after which no amount of future tax increases or spending cuts could avoid the government defaulting on its debt."
Is Chaos the Natural State of Congress?
The federal budgeting process was broken long before Matt Gaetz and Kevin McCarthy's recent spat.
Federal Agencies Maintain Offices That Sit Mostly Empty
A new Government Accountability Office report notes that of 24 federal agencies, none of their headquarters are more than half-staffed on an average day.
New Speaker Mike Johnson's First Good Idea: A Debt Commission
A debt commission won't solve any of the federal government's fiscal problems, but it's the first step towards taking them seriously.
Thomas Massie: 'The Next Speaker Is Going To Go Back to the Old Testament'
The libertarian-adjacent Kentucky congressman says he's against the effort to depose Speaker Kevin McCarthy.
Shut Up Already About John Fetterman's Slob Chic
The Senate is an incompetent laughingstock regardless of what its members wear.
Are Government Shutdowns Good for Limited Government?
Plus: A listener asks whether younger generations are capable of passing reforms to entitlement spending.
It's Government Shutdown Theater, Again
Fiscal irresponsibility might eventually shut down the government, but at the moment it’s all for show.
IRS Targeting More Supposedly 'High-Income' Americans Than Advertised
Don’t count on that promise to not hike taxes on “people making less than $400,000.”
Congress Is Still Using 'Emergency Spending' on Non-Emergencies
Since Congress won't cut spending, an independent commission may be the only way to rein in the debt.
Don't Let the Government-Shutdown Charade Distract You From the Debt Crisis
America’s biggest fiscal challenge lies in the unchecked growth of federal health care and old-age entitlement programs.
Politicians Continue To Make a Mockery of 'Emergency Spending'
Legislators abuse the emergency label to push through spending that would otherwise violate budget constraints.
The U.S. Government's Bad Credit Means Higher Costs for Us All
Federal officials ignore repeated warnings, and we all pay the price.
The U.S. Credit Rating Just Dropped. It's Time for Radical Budget Reform.
The lack of oversight and the general absence of a long-term vision is creating inefficiency, waste, and red ink as far as the eye can see.
Is the Budget Process Broken, or Is Congress Just Refusing To Do Its Job?
Since Congress designed and implemented the last budget process in 1974, only on four occasions have all of the appropriations bills for discretionary spending been passed on time.
U.S. Credit Rating Downgrade Is a Sign of Government Dysfunction
The national debt has ballooned from $14 trillion to $32 trillion in a little over a decade.
