There's a fox, a goose, and a bag of grain. And a hippopotamus in the middle of the river.
Even without further spending increases, the Congressional Budget Office projects that the national debt will hit 107 percent of GDP in 2023.
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.
Research suggests reducing spending will boost consumption in the short- and long-run.
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.
The Next Stimulus: Infrastructure Week, Another Rural Broadband Boondoggle, and Maybe a Sports Bailout?
It's obvious that there will be more government spending in response to the coronavirus, but distinguishing the essential from the nice-to-have is more important than ever.
And more coronavirus stimulus spending could send that number soaring higher.
Having failed to be fiscally responsible when it would have been relatively easier, our elected officials will now likely hike spending even further.
Instead of taking a little off the top, Trump needs to give farm subsidies a buzz cut.
And whether it balances at all depends on some creative accounting. Meanwhile, it proposes $2 billion in new spending on the border wall.
Plus: Josh Hawley's latest terrible idea, sex work divides NOW, Gary Johnson's 2020 endorsement, and more...
The problem, as always, is that voters are likely to say they want Congress to balance the budget, but are less likely to back any specific ideas for doing so.
In three years in office, Trump has added more to the national debt than President George W. Bush did in his entire two terms.
Will tonight be any different or more of the same?
Plus: Fashion versus the police state, a truce in the Kansas-Missouri border war, and more....
The $866 billion budget gap so far this fiscal year represents a 27 percent increase over the same period last year.
The idea that "deficits don't matter" has been growing among Trump-supporting Republicans. Democrats are preparing to take full advantage.
The Senate Will Vote on a $2.7 Trillion Budget Deal That Adds to the National Debt. The Democrats' Debates Ignored It.
CNN doesn't think Americans deserve to hear potential presidents asked about the national debt.
Members of Congress are well aware of the looming threat of the $22 trillion (and growing) national debt, but seem incapable of doing anything except making it worse.
Can the Freedom Caucus Convince Trump to Derail This Awful Budget Deal? If Not, Fiscal Conservatism Is Truly Dead.
The House Freedom Caucus could reverse its trend towards irrelevancy by successfully swaying Trump to turn against the new budget deal.
If President Donald Trump signs the deal into law, he will have authorized a 22 percent increase in federal discretionary spending during his first term in office.
The federal government will spend $57 trillion over the next 10 years and run an $11 trillion deficit. But cutting spending by $150 billion is too much to ask?
The national debt will hit 140 percent of GDP before the end of the 2040s, and that's the optimistic scenario.
"Show me the majority for cutting spending," he says.
Paul's proposal to cut 2 percent from the federal budget for the next five years was predictably opposed by both Democrats and most Republicans
America will face "serious economic, security, and social challenges" if the national debt keeps growing at this rate.
A new record, but one that won't stand for long.
From OMB head Mick Mulvaney to former Treasury Secretary Larry Summers, nobody cares about spending money we don't have on things we don't need. Big mistake.
Or the $22 trillion (and counting) national debt. Or the entitlement programs that will continue adding to them.
Proponents of jacking top marginal income tax rates such as AOC ignore how hard it is to actually boost revenue over the long haul.
You can't have it both ways.
Growth alone won't get us out of this mess.
At this rate we'll get there before the end of the century.
Brian Riedl has a plan to stabilize the national debt at 95 percent of GDP. He says trying it might be political suicide, but the alternative is much worse.
Congress Just Passed a $150 Billion Spending Package Without Any Consideration for Looming Trillion-Dollar Deficit
Just days after the latest CBO projections showed the deficit getting worse, Congress signs off on another bi-partisan spending increase.
New CBO analysis shows debt could exceed 200 percent (!!!) of GDP by mid-century without changes.
Entitlement spending, health care costs, and the GOP tax legislation will drive up the debt.
Medicare will run dry even sooner. Do you trust anyone in Washington to solve this problem?
Thursday's vote is an empty gesture. Worse, it's a hypocritical one.