A one percentage point increase in interest rates translates into a $30 trillion increase in interest costs on the national debt.
Debt and Deficits
America needs to get its fiscal house in order.
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.
Habitual debt busts are one Latin American export that is better left on the dock.
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.
There are five instances of the Treasury defaulting on the debt.
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.
It's Biden's bill, but Trump helped set the stage.
Legislating with budget gimmicks is shameful, timid, risky, and opportunistic. Mostly, though, it's really expensive.
Why Biden's $3.5 Trillion Spending Plan Would Be Worse for the Economy Than Manchin's $1.5 Trillion Proposal
Manchin's $1.5 trillion plan is still bigger than the Obama stimulus, and would be a major expansion of government's power to redistribute wealth.
When everything's a priority, nothing is.
Plus: Why "reforming" Section 230 makes little sense, the FDA finally admits vaping is safer than smoking, the U.S. will reopen its land borders with Canada and Mexico, and more...
"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.
Democrats are now relying on the same "dynamic scoring" technique they've previously criticized.
The problem isn’t the GOP or Senate rules. It’s that Democrats can’t agree amongst themselves.
A new analysis projects that private capital, wages, and America's GDP will fall over the next three decades if Congress passes the $3.5 trillion reconciliation package. But at least government debt will grow!
To spend a lot of money, or to spend a lot more money? That is the question.
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.
As inflation increases, we need a low-debt environment.
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.
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.
State Revenue Is 'Virtually Flat.' Local Government Revenue Is Up Slightly. Congress Wants To Give Them $350 Billion Anyway.
The Democrats' COVID bill showers billions of unneeded dollars on state and local governments.
State, Local Governments Are Posting Surprisingly Sunny Revenue Projections. Democrats Want To Give Them $350 Billion Anyway.
Most states managed to avoid much-predicted fiscal crises during the pandemic. Congress wants to shower them with more federal aid anyway.
If we can't trim the Pentagon's budget this year, will we ever?
When it comes to limiting the size and scope of government and protecting individual liberties, America's 45th president has been actively malign.
The Congressional Budget Office warns that higher levels of debt will slow economic growth significantly in the years ahead.
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.
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.
Remember when $1 trillion annual deficits were worryingly large? Last month’s budget gap was $864 billion.
Debt held by the public equals about 100 percent of GDP. That's hurting growth and will fuel a major crisis.
Even in a healthy economy, rising debt and deficits posed challenges. The current crisis has magnified those problems.