Social Security and Medicare Cuts Are Coming, Whether Politicians Do It or Not
As legislators refuse to act, benefits will be cut without any possibility of sheltering those seniors who are poor.
Budget Deficit
Under No Circumstances Did Joe Biden Save Social Security
Plus: a listener question on prohibition and a lightning round on the editors' favorite Super Bowl moments
The Fight Over the Debt Ceiling Is Just Beginning
Legislators will increasingly argue over how to spend a diminishing discretionary budget while overall spending simultaneously explodes.
Biden Promises To Let Social Security's Ship Keep Sinking
Biden vowed to block any attempts to cut Social Security benefits, and Republicans made it clear that they have little appetite to try it.
The GOP's Current Plan To Cut Spending Is a Political Failure
Social Security, Medicare, and Medicaid are still the chief drivers of our future debt. But Republicans aren't touching them.
Cutting Government Back to Last Year's Size Shouldn't Be 'Impossible' or 'Severe'
Taking stock of the utterly unserious fiscal policy discourse in Washington.
To Win the Speakership, Kevin McCarthy Had To Promise To Cut Spending. Good.
While some Republicans may have had misguided motivations, a few disrupted McCarthy's campaign in order to enact fiscal restraint. Their colleagues were fine with business as usual.
Congress and the Federal Reserve Could Be Setting Us Up for Economic Disaster
If lawmakers keep spending like they are, and if the Fed backs down from taming inflation, then the government may create a perfect storm.
Congress Can Reduce the Deficit by $7.7 Trillion in 10 Years
The Congressional Budget Office projects that future deficits will explode. But there's a way out.
Why Does Funding Government Take $1.7 Trillion and 4,000 Pages?
Plus: Title 42 order termination is on hold, the FTC vs. Meta, and more...
The Annual, Depressing 'Do Your Job Week' in Congress
Plus: The editors extend the discussion on the lack of immigration reform in this week’s bill.
November's $249 Billion Federal Budget Deficit Set a Record. Now, Congress Is Preparing To Spend Even More.
The government spent $501 billion in November but collected just $252 billion in revenue, meaning that about 50 cents of every dollar spent were borrowed.
Congress' Lame-Duck Legislators Want To Spend Money Like We're Still in a Pandemic
It's especially outrageous when considering the billions of dollars in fraud that took place thanks to COVID-19 relief programs.
Biden's Spending Spree Is Unprecedented
Instead of redirecting course, Biden is continuing Trump’s spending legacy.
A GOP-Led Congress May Focus on Owning the Libs. Instead, It Should Focus on Owning Inflation.
If the midterms favor Republicans, their top priority needs to be the fight against inflation—whether or not they feel like they created the problem.
The Political Class Has Consistently Ignored Warnings of Fiscal Doom. Now Americans Are Paying the Price.
Warnings of inflation and rising interest rates have long been tied to high and rising debt levels.
Here's Why Biden Is Wrong About the Deficit
His administration has expanded deficits by $400 billion more than expected, even before we count recent spending.
Expected Interest Rate Hike Will Add $2 Trillion to the Deficit
So much for the idea that low interest rates meant the government could borrow endlessly with no consequences.
The U.K.'s New 'Free Market' Prime Minister Is Fighting Inflation With Price Controls
This fiscal irresponsibility throws gasoline on the country's already raging inflation fire.
As Inflation Soars, Biden Hosts Cringey Concert Celebrating the Inflation Reduction Act
James Taylor croons while the stock market burns after another ugly report on inflation.
Biden Reportedly Set To Forgive $10K Student Debt for Americans Earning Over Six Figures
Unsurprisingly, wealthier Americans will be the prime beneficiaries of the White House's soon-to-be-announced student loan forgiveness scheme.
The Inflation Reduction Act Barely Puts a Dent in the Deficit
But it will raise taxes and sic thousands of new IRS agents on American households.
The Disappearing Differences Between Republicans and Democrats on Federal Family Spending
Many conservatives no longer appear to care much for fiscal conservatism.
The Inflation Reduction Act Won't Meaningfully Address the Budget Deficit
Congress has added $2.4 trillion to the long-term deficit since President Joe Biden took office. Now they want credit for reducing the deficit by $300 billion?
The CHIPS Act Is Corporate Welfare Disguised as Industrial Policy
If you believe that moving most of our chip production onshore is good for national security, you should labor for regulatory reforms rather than subsidies.
Schumer, Manchin Strike Deal To Raise Taxes, Cut the Deficit, Spend Billions on Climate Change
The proposal reportedly hikes taxes by over $730 billion, with $300 billion of that money to be used for reducing the federal budget deficit.
Biden's Policies Have Increased, Not Reduced, Future Budget Deficits
Dissecting the president's misleading claims about falling deficits
Rand Paul Asked Senators To Balance the Budget. Only 28 Agreed.
Rising interest rates will only make it harder to balance the budget in future years.
A Wonky Evisceration of Biden's Bad Deficit Math
Interest rates and servicing costs could push us into worrisome territory sooner than we think.
Why Biden's Claim of Cutting the Deficit Is False, in a Single Chart
...and why government spending is like an infestation of cicadas.
New CBO Report Exposes Biden's Deficit-Reduction Misinformation
The president is trying to claim credit for falling deficits. Actually, his administration has overseen a $2.4 trillion increase in the long-term deficit.
A Global Tax Cartel Would Be as Bad as It Sounds
Several studies have found that the vast majority of costs incurred by increased corporate taxes are passed along to workers in the form of lower wages.
Biden Brags About Falling Deficits, but the Federal Fiscal Situation Is Still 'Unsustainable'
Under current policies, Social Security and Medicare will consume 85 percent of all federal tax revenue by 2050.
Joe Biden's Phony Fiscal Responsibility
Biden gloats over a historically astronomical budget deficit as if he's accomplished something significant. He hasn't.
Congress Plans To Spend $1.5 Trillion This Year, Continues To Pretend the Deficit Doesn't Matter
Democrats hail the new budget agreement as "the largest increase in non-defense discretionary spending in four years" while Republicans tout a big boost in military spending. Everyone wins!
Biden Tries To Twist His Domestic Agenda Into a Form Joe Manchin Will Support
Biden made some vague promises about deficit reduction during Tuesday's State of the Union address. They don't add up.
America's $30 Trillion National Debt Should Be a Wake Up Call
But Washington just keeps hitting the snooze button.
Without Budget Gimmicks, Biden's 'Build Back Better' Will Add $3 Trillion to the Deficit, CBO Says
Enough with the budget gimmicks. It's time for Democrats to admit that Biden's proposal is a long, long way from being fully paid for.
Biden's Build Back Better Act Will Likely Cost Twice as Much as the CBO Projects. Here's Why.
If all the Build Back Better plan's proposals were made permanent, the final price tag would be $4.8 trillion and the bill would add about $2.8 trillion to the deficit.
Democrats' 'Build Back Better' Bill Is a Federal Power Grab. Americans Will Pay the Price.
The legislation will have a negative impact on the labor supply and send high prices soaring even higher.
CBO: Biden's 'Build Back Better' Plan Will Add $367 Billion to the Deficit
The Congressional Budget Office's analysis of the bill is unlikely to prevent its passage through the House. A vote could happen later tonight.
Inflation Will Make Government Budget Problems Worse
The cost of interest on the national debt will soon be a huge chunk of change.
Joe Manchin Isn't the Fiscal Conservative We Need, but He's the Best We've Got
"Spending trillions more on new and expanded government programs, when we can't even pay for the essential social programs...is the definition of fiscal insanity."
Joe Manchin Is Forcing Congress To Think About the Deficit. Good.
Among Americans who aren't liberal pundits, the debt and deficit rank as major concerns. It's about time Congress noticed.
Taxing the Rich Isn't Enough to Pay for Democrats' Welfare State. They'll Need To Soak the Middle Class Too.
There simply aren't enough rich people to finance all the new spending.
Medicare Is About To Run Out of Money. Democrats Want To Make the Program Cost Even More.
The federal health care program is on track for a trust fund shortfall in just five years. But instead of paying for the program that exists, Democrats want to expand it.
The Bipartisan Infrastructure Bill Will Add More Than $250 Billion to the Deficit. Does Anyone Care?
A CBO report that might have sunk legislation in an earlier era was greeted with a bipartisan shrug.
Want To Close the Tax Gap? Cut Taxes.
It would require our enormous government to become less gluttonous with the people's resources.