Budget

Why Republicans Won’t Even Try to Pass a Budget for 2019

By The Fiscal Times Staff

Budget expert Stan Collender at Forbes slams Republicans for not even attempting to pass a budget for the fiscal year that starts October 1. “The House and Senate Budget Committees only have one job...
Deficit Owls Say You Shouldn’t Give a Hoot About $1 Trillion Budget Shortfall

By Yuval Rosenberg

As warnings rise about the Congressional Budget Office’s projection that the federal budget deficit is on pace to top $1 trillion in 2020, The Washington Post’s Jeff Stein on Friday highlighted a...
How Congress Cheats with Our Money — and How We Can Stop It

By Marc Goldwein and Zach Moller

The U.S. is on course to top its record debt levels set after World War II, and permanent trillion-dollar deficits — meaning, forever — are likely to return within two years . And unlike after World...
Will Work for Food? Republicans Push Stricter Rules for SNAP

By Michael Rainey

Funding for the Supplemental Nutrition Assistance Program (SNAP), more commonly known as food stamps, is provided in the farm bill, a massive spending and regulatory package Congress passes every...
April Is Financial Literacy Month. Someone Tell Congress.

By Joseph J. Minarik and Caroline L. Ferguson

February is Black History Month, March is National Women’s Month, and April? Well, it’s Financial Literacy Month, of course! The U.S. government gave financial literacy its own month in 2003. April...

Why All the Warnings About Unsustainable National Debt Could Be Wrong

By Michael Rainey

International economists are warning about rising global debt levels and deficit hawks in Washington are increasingly worried about what they see as unsustainable debt levels in the U.S., but a new...
The US Has an Exceptional Debt Outlook – and Not in a Good Way

By Michael Rainey

The International Money Fund’s latest global fiscal survey warns that in five years, the U.S. debt-to-GDP ratio will be higher than Italy’s, a nation not generally known for its exemplary fiscal...
Why More School Districts Are Holding Class Just Four Days a Week

By Sophie Quinton, Stateline

The public school in Campo, Colorado, hasn’t required all its students to come to class on Fridays for nearly two decades. The 44-student district dropped a weekday to boost attendance and better...
When the Budget Won’t Balance, Just Get Rid of the Budget Committee?

By Michael Rainey

It may sound like a joke — Erik Sherman of Forbes said it seemed like something “from The Onion or Andy Borowitz at the New Yorker, only with less humor and pith” — but Sen. Mike Enzi (R-WY), chair...
With Recent Laws, Congress Has Added $540 Billion to the 2019 Deficit

By Yuval Rosenberg

Spending hikes and tax cuts passed since 2015 under the Trump and Obama administrations account for $540 billion of next year’s projected $981 billion budget deficit, or 55 percent, according to...

Pay Now, Save Later on the F-35?

By Michael Rainey

Lockheed Martin, the lead contractor on the F-35 Joint Strike Fighter program, wants the Pentagon to sign longer contracts for more planes as part of an effort to reduce the per-unit price of the...
'All Four Feet and Their Snout in the Trough': Lawmakers Sound Off on Pentagon Audit

By Michael Rainey

A Senate Budget Committee hearing about the first-ever comprehensive audit of the Defense Department produced some sharp questions and colorful comments from lawmakers Wednesday. Sen. Bob Corker (R-...
Trump Threatens to Veto Spending Bill Over NY-NJ Train Tunnel Funding

By Yuval Rosenberg

President Trump has threatened to veto a $1.2 trillion congressional spending bill if it provides an estimated $900 million in funding for a long-sought commuter railroad tunnel connecting New York...
Senate Banking Bill Would Raise the Risk of Another Bailout, CBO Says

By Yuval Rosenberg

The Senate took another step Tuesday toward passing a bipartisan bill to roll back some banking regulations enacted after the 2008 financial crisis. In a 67-32 vote, senators cleared the way for the...
The $82 Trillion Problem Washington Has Stopped Talking About

By Yuval Rosenberg

Now that “the anti-deficit hysteria of the Great Recession has given way to a backlash of complacency,” lawmakers and the public are ignoring “an $82 trillion avalanche of Social Security and...