The Debt

‘Beware Trillion-Dollar Deficits,’ Barron’s Says

By Yuval Rosenberg

In the latest Barron’s cover story, Jack Hough warns of the long-term risks of rising U.S. public debt. While noting that there’s little chance of hitting debt-related turbulence anytime soon and...
Are Deficit Hawks Dead or Just Playing Possum?

By Yuval Rosenberg

“The deficits hawks are dead,” declared Paul Kane, The Washington Post’s senior congressional correspondent and columnist, in a piece over the weekend. It’s easy to see why Kane says that, and there’...
Why the Markets Aren’t Freaking Out About Soaring US Debt

By Yuval Rosenberg

Does the high and rising level of U.S. public debt matter? If so, how concerned should we be? Goldman Sachs asks those questions in a new research piece, noting that the “fiscal outlook for both...
Is Joe Scarborough Right About the GOP and the National Debt?

By The Fiscal Times Staff

Former GOP congressman and current Trump antagonist Joe Scarborough laid into the president and his party this week, finding fault with, among other things, their track record on deficit spending. "...
‘Things Are So Much Worse’ – but Does Anyone Care About the Deficit?

By Yuval Rosenberg

As we told you yesterday , the Congressional Budget Office estimated this week that the deficit for the first 11 months of fiscal 2018 totaled $895 billion, or $222 billion more than it was over the...

Deficit Soaring in 2018

By The Fiscal Times Staff

The federal deficit was 32 percent larger in the first 11 months of fiscal year 2018 than it was during the same time period in 2017, the Congressional Budget Office announced Monday. The deficit...
The Cost of War Since 9/11

By Michael Rainey

The wars in Afghanistan, Iraq and Syria have cost the U.S. more than $1.5 trillion, according to Department of Defense data reported by CNCB Monday. The Pentagon report covers war-related operational...
Tax Cuts 2.0: What’s in the GOP Plan and Why It Matters

By Yuval Rosenberg

With an eye toward November’s midterm elections, House Republicans on Monday unveiled legislation to make permanent the individual tax cuts and pass-through business deductions that were set to...
Trump Wanted Higher Taxes on the Rich – and to Print Lots of Money: Woodward

By Michael Rainey

Bob Woodward’s book on the Trump administration, “Fear: Trump in the White House,” hits bookstores Tuesday but has been making headlines for about a week as details leak out. According to a review of...
Obama: 'Suddenly Deficits Do Not Matter'

By Yuval Rosenberg

Former President Barack Obama stepped back into the political fray on Friday, delivering a blistering rebuke of President Trump and the Republican Party while signaling how he plans to campaign on...

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...
US Interest Costs Will Match Social Security Spending by 2048, CBO Says

By Yuval Rosenberg

The Congressional Budget Office on Tuesday confirmed what we already knew: The U.S. faces a rising tide of red ink, with the national debt as a share of the economy projected to nearly double over...
Bill Clinton’s Surplus Miracle, 20 Years Later

By Sheila Weinberg

Standing behind a podium in the Rose Garden, President Bill Clinton delivered a bold prediction 20 years ago. “Well ahead of the most ambitious schedule, America has balanced the budget,” he declared...
Forget Tax Cuts: Trump’s Immigration Policy Is Drowning Out GOP Issues

By Yuval Rosenberg and Michael Rainey

Republicans had planned to focus on the tax cuts this week as we approach the six-month anniversary of the Trump administration's major legislative achievement, the passage of the tax bill in...