Budget

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...
Trump Properties Are Raking In Millions in Political and Taxpayer Spending

By Yuval Rosenberg

The Trump campaign, Republican organizations and government agencies have spent at least $16.1 million at hotels, golf courses and restaurants managed or branded by the Trump Organization since...

Want to Balance the Budget? We’ll Need 5% Growth to Get There

By Michael Rainey

The federal government will start spending $1 trillion more than it raises in taxes in 2019, and the deficit is expected to remain above that level for the foreseeable future. It’s widely agreed that...
How Rising Deficits Could Cause Interest Rates to Jump

By Yuval Rosenberg

In a note to clients on Saturday, Goldman Sachs economists say that the larger deficits resulting from Congress’ recent tax cuts and spending increases could drive interest rates higher in at least a...
Congress Has a Lot to Do Before Summer Break

By Michael Rainey

With the tax cuts passed and the White House increasingly focused on foreign policy, Republicans in Congress have set many of their top agenda items – from Obamacare repeal to immigration reform – on...
Will States Win Big with Legal Sports Gambling?

By Yuval Rosenberg

The Supreme Court has cleared the way for more states to bet on sports gambling as a source of revenue. In a 6-3 decision , the high court on Monday struck down as unconstitutional a 1992 federal ban...
From Fighter Jets to Trump's Big Parade, $716 Billion Defense Authorization Bill Moves Ahead

By Michael Rainey

The House Armed Services Committee passed a $716 billion defense policy bill on Thursday, sending it to the full House for a vote later this month. The topline number for military spending in fiscal...