Budget

The US Now Spends $1 Billion a Year Detaining Immigrant Kids

By Yuval Rosenberg

Detaining immigrant children has become a $1 billion business, the Associated Press reported Friday. Grants from the Department of Health and Human Services (HHS) “for shelters, foster care and other...
Is the War on Poverty Over?

By Michael Rainey

The White House declared this week that the war on poverty “is largely over and a success” as it pushes for stiffer work requirements for recipients of federal aid. In a paper released Thursday,...
Former HHS Secretary Tom Price Wasted More Than $300,000 on Travel

By Michael Rainey

President Trump’s former Health and Human Services Secretary Tom Price improperly spent at least $341,000 on travel, according to an Inspector General report issued Friday. The IG reviewed 21 trips...
How Much the US Will Save by Canceling ‘War Games’ in South Korea

By Michael Rainey

When President Trump canceled joint military exercises with South Korea as part of his effort to denuclearize North Korea, he claimed that in addition to the diplomatic benefits, the move would save...
Some GOP Senators Want to Slash Gas Taxes — and Federal Highway Spending

By Michael Rainey

Republican Sens. Mike Lee, Marco Rubio and Ted Cruz introduced a bill Tuesday that would dramatically reduce federal involvement in transportation systems in the U.S. The Transportation Empowerment...

Trump Wants NATO to Spend More – a Lot More – on Defense

By Michael Rainey

President Trump wasted no time Wednesday morning criticizing NATO allies for their military spending, calling for them to double their defense spending targets to 4 percent of GDP. Trump’s call came...
Democrats and the Deficit: The Intraparty Fight Ahead

By Yuval Rosenberg

Alexandra Ocasio-Cortez, the 28-year-old Democratic Socialist who stunned the political world and roiled the Democratic Party this month by defeating Rep. Joe Crowley (D-NY) in a primary, believes in...
Worrying About the Next Recession

By Yuval Rosenberg

When will the next recession hit? It’s been more than nine years since the Great Recession officially ended , and the U.S. economy is about a year away from passing the 1990s expansion to become the...
Another Problem with Larry Kudlow's Deficit Whopper

By Yuval Rosenberg

Larry Kudlow, director of President Trump’s National Economic Council, set off a wave of incredulous head-scratching on Friday by claiming in an interview with Fox Business Network that the federal...
Larry Kudlow, Trump’s Top Economic Adviser, Says the Deficit Is Falling. It Is Not.

By Yuval Rosenberg

Larry Kudlow, President Trump’s top economic adviser, said on the Fox Business Network Friday morning that the federal budget deficit is falling “rapidly.” In response to a Maria Bartiromo question...

Another Way Trump’s Trade War Could Hurt the US

By Yuval Rosenberg

Peter Boockvar, chief investment officer at the Bleakley Advisory Group, adds another wrinkle to the dangers of an emerging trade war. In a Monday morning email, Boockvar notes that foreigners were...
Trump Calls for the Military to Add a Space Force

By Michael Rainey

President Trump ordered the Defense Department on Monday to take steps toward creating a new branch of the military focused on space. "I am hereby directing the Department of Defense and Pentagon to...
Is Trump Really Saving Money by Canceling ‘War Games’ in South Korea?

By Michael Rainey

President Trump announced Tuesday that the extensive joint military exercises the U.S. regularly holds with South Korea will cease as he seeks to improve relations with North Korea. In addition to...
Congress Faces a Rocky Road to November

By Yuval Rosenberg

The news headlines may be dominated by stories about President Trump, North Korea, trade wars and the special counsel investigation into Russian interference in U.S. elections, but budget expert Stan...
Why Trump’s Spending Clawbacks Matter ... and Why They Don’t

By Yuval Rosenberg

In a party-line vote, the House on Thursday evening narrowly passed the White House’s proposal to claw back nearly $15 billion in previously approved federal funding that was never spent. The vote...