The Debt

Rethinking the Debt Threat: House Panel to Hold Hearing Next Week

By Yuval Rosenberg

The House Budget Committee will hold a hearing next week examining the costs and consequences of federal debt, with four prominent economists slated to testify. Ahead of the hearing, Democratic...
Cost of Wars Since 9/11: $6.4 Trillion and Rising

By Michael Rainey

The total cost of the wars fought since 9/11 is approaching $6.4 trillion, according to an annual report published Wednesday by the Watson Institute for International and Public Affairs at Brown...
National Debt Hits $23 Trillion

By Michael Rainey

Total federal debt has surpassed $23 trillion for the first time, according to data released by the Treasury Department Friday. Of that amount, $17 trillion is debt held by the public, which is...
Two Takes on Republican Debt Hypocrisy

By Yuval Rosenberg

The federal deficit for fiscal 2019 was nearly $1 trillion, and the national debt is going to hit $23 trillion within a matter of days. President Trump once said he would eliminate the national debt...
The Budget Outlook Isn’t Good — but It Has ‘Improved Substantially Since 2010’: Report

By Yuval Rosenberg

The national debt is now approaching $23 trillion, up nearly $9 trillion from the end of 2010, and the debt held by the public now stands at nearly $17 trillion, up about $7.5 trillion from since the...

2019 Deficit Was Just Under $1 Trillion, Highest in 7 Years: CBO

By Yuval Rosenberg

The federal budget deficit for fiscal year 2019 grew to $984 billion, or 4.7% of GDP, the highest since 2012, the Congressional Budget Office estimated on Monday. The total for 2019 is 26% higher...
McCarthy Says Debt Will Be ‘Taken Care of’ if GOP Wins the House

By Michael Rainey

Minority Leader Kevin McCarthy said Thursday that the national debt would be his top priority if Republicans succeed in retaking the House in 2020. “First thing we would do is make sure our debt is...
Mnuchin Says Treasury Is ‘Seriously Considering’ a 50-Year Bond

By Michael Rainey

Asked about President Trump’s recent suggestion that the U.S. should “refinance” its debt at lower interest rates over a longer time horizon, Treasury Secretary Steven Mnuchin said Thursday his...
Trump: ‘Boneheads’ at the Fed Should Drop Interest Rates to Zero, or Lower

By Michael Rainey

President Trump blasted the “boneheads” at the Federal Reserve Wednesday for failing to reduce interest rates to zero or below. “The Federal Reserve should get our interest rates down to ZERO, or...
Trump Gets a Fiscally Focused Challenger

By Michael Rainey

Mark Sanford announced Sunday that he is running for president, becoming the third Republican to challenge President Trump for the nomination in 2020. The former South Carolina congressman said he...

Will Fiscal Policy Be There When the Economy Needs It Most?

By Yuval Rosenberg

Central bankers around the world are looking for help. The New York Times’s Jeanna Smialek reports : “As top economists from around the globe gather for their annual conference at Jackson Hole this...
The American Public Has a Plan to Cut the Deficit: Higher Taxes

By Yuval Rosenberg

As evidenced by the CBO numbers above, lawmakers may be placing little importance on the rising deficit, but the American public apparently takes a different view. Writing at The Washington Post’s...
Deficit Will Grow by $800 Billion More Than Previously Expected Over Next Decade: CBO

By Yuval Rosenberg

U.S. budget deficits are projected to grow by $809 billion more than previously expected over the next 10 years, primarily as a result of the two-year budget deal passed by Congress last month, the...
We May Need ‘Helicopter Money’ to Fight the Next Downturn: Report

By Michael Rainey

The next recession will call for unprecedented coordination of fiscal and monetary policy in the U.S. and other advanced economies, according to a new report from the BlackRock Investment Institute...
Why the US Should ‘Borrow Gobs of Cash’ Right Now

By Yuval Rosenberg

Investors worried about the health of the global economy continued to scramble to the safety of U.S. bonds on Thursday, driving the yield on 30-year U.S. Treasury bonds below 2% for the first time...

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