Budget Battles
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April Is Financial Literacy Month. Someone Tell Congress.
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When the Budget Won’t Balance, Just Get Rid of the Budget Committee?
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With Recent Laws, Congress Has Added $540 Billion to the 2019 Deficit
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Why Trillion-Dollar Deficits Matter
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Paul Ryan's Fiscal Legacy: Lots of Red Ink
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Why Almost No One Is Happy About This Week's Balanced Budget Amendment Vote
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Yellen, Democratic Economists Say Fixing Debt Crisis Isn’t All About Entitlements
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Paul Ryan's Fiscal Legacy: Lots of Red Ink
House Speaker Paul Ryan announced Wednesday that he won’t seek re-election this year and will retire at the end of his term in January, becoming the most prominent in a wave of Republican lawmakers...
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Yellen, Democratic Economists Say Fixing Debt Crisis Isn’t All About Entitlements
Late last month, a quintet of big-name Hoover Institution economists warned in a Washington Post op-ed that a coming “string of perpetually rising trillion-dollar-plus deficits” could soon lead to a...
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Which Americans Worry Most About Social Security?
Maybe call it social insecurity? Just over half of American adults between the ages of 50 and 64 say they worry a “great deal” about the Social Security system, according to recent polling by Gallup...
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The Old Will Outnumber the Young in the US by 2035
By The Fiscal Times StaffBy 2030, all Baby Boomers will be older than 65, meaning that one in five U.S. residents will be of retirement age, the Census Bureau reports . And by 2035, seniors will outnumber children for the...
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The $82 Trillion Problem Washington Has Stopped Talking About
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...
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New Budget Projections Show a Rising Tide of Red Ink Ahead
By Michael RaineyThe Congressional Budget Office won’t release new budget projections that include the effects of the President Trump’s tax overhaul until April, but on Friday the deficit hawks at the Committee for a...
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Why Trump’s Immigration Plan Could Hurt Social Security
By Michael RaineyEconomists have warned that the Trump administration’s plan to reduce immigration and deport thousands of unauthorized immigrants could impose significant costs in terms of lower growth and lost...
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How Trump’s Budget Would Cut the Social Safety Net
As a candidate, President Trump said he would not cut Medicare, Medicaid or Social Security. But his 2019 budget proposal seeks to reduce spending on all three programs and other parts of the social...
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Why This Is a Bad Time to Turn a Blind Eye to the Deficit
In a Wall Street Journal column , Princeton economist and former Federal Reserve Vice Chairman Alan Blinder explains why Washington’s race to increase deficits through a combination of tax cuts and...
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What Was Notably Absent from Trump’s State of the Union Address
President Trump’s State of the Union address Tuesday night lasted an hour and 20 minutes — the third-longest ever, just nine minutes shy of the record . The president touched on a long list of...
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Paul Ryan Throws in the Towel on Entitlement Reform
By Michael RaineySpeaker of the House Paul Ryan has long wanted to restructure entitlement programs, and there was some speculation that Republicans might try to reform Medicare and Social Security in the wake of...
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Trump’s Top Priority for 2018: Infrastructure or Welfare Reform?
Trump’s Top Priority for 2018: Infrastructure or Welfare Reform? The White House has yet to finalize its top priorities for 2018, according to reports, but the administration would like to pursue...
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McConnell Says Welfare and Entitlement Reform Not on Senate’s 2018 Agenda
President Trump and House Speaker Paul Ryan have said that welfare reform is on their to-do list for 2018. Mitch McConnell apparently has a different plan. The Senate Majority Leader on Thursday told...
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The Problem with Trump’s New 401(k) Pitch
President Trump and the White House have embraced the rising stock market as a gauge of their economic impact. Bloomberg News reports that the president has been testing a new campaign pitch, asking...
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Social Security Changes May Be on Trump’s Agenda … for His Second Term
President Trump once told a Republican member of Congress that he would not touch Social Security “until the first day of his second term,” the unnamed lawmaker told Business Insider. More on...