The Debt

Republicans Ignore the Obvious Effect of Their Tax Cuts

By Yuval Rosenberg

President Trump, top administration officials and Republican congressional leaders claim that the rising deficit, which grew 17 percent to $779 billion in fiscal 2018, is not the result of their tax...
Mitch McConnell on Rising Deficit: ‘It’s Not a Republican Problem'

By Yuval Rosenberg

The quotes: “It’s disappointing, but it’s not a Republican problem. It’s a bipartisan problem: unwillingness to address the real drivers of the debt by doing anything to adjust those programs to the...
Federal Deficit Jumps 17 Percent to $779 Billion

By Yuval Rosenberg

Despite a strong economy and robust job market, the federal budget deficit swelled to $779 billion in fiscal 2018, up $113 billion from 2017, according to final numbers released Monday by the...
Mnuchin Spins a False Claim About Tax Cuts and the Deficit

By Yuval Rosenberg

The Congressional Budget Office projected last week that the federal government’s fiscal 2018 deficit would total $782 billion. The final numbers will be released by the Treasury Department, but...
A Fiscal Hawk’s New Plan to ‘Avert a Debt Crisis’

By Yuval Rosenberg

The national debt rose by more than $1 trillion in fiscal 2018, and yet lawmakers have evinced little concern about it ahead of this year’s elections, instead pushing tax cuts and spending increases...

How GOP Rhetoric on Entitlements Has Changed

By The Fiscal Times Staff

The Washington Post’s David Weigel describes how Republicans have changed their tune on Medicare and, for this year at least, largely abandoned the idea of entitlement reform: “[O]ver eight years,...
The Post-Election Outlook: ‘Debt, Debt and More Debt’

By Yuval Rosenberg

The 2018 elections are looking like a lose-lose proposition for the U.S. bond market, according to Bloomberg’s Liz McCormick and Alex Harris : “If Democrats take the House, it raises the odds that...
Deficit Jumped to $782 Billion in 2018 – and It’s Only Going to Get Bigger

By Michael Rainey

You might have missed this with everything else going on in the world, but the Congressional Budget Office said Friday that the deficit for fiscal year 2018 rose to $782 billion, a big jump from the...
Why Rising Interest Rates Really Matter

By Michael Rainey

The job market is “sizzling,” says Moody's Analytics chief economist Mark Zandi, thanks in part to the deficit-financed tax cuts and government spending increases that went into effect this year. The...
Larry Kudlow Wants to Put a ‘Big Dent’ in Government Spending

By Yuval Rosenberg

Larry Kudlow, the director of President Trump’s National Economic Council, is once again talking up the economy and talking down the threat posed by rising debt and deficits. And once again, he’s...

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...
Japan Hasn’t Had a Debt Crisis. Why Should the U.S. Worry About One?

By Yuval Rosenberg

In a research note published Friday, Goldman Sachs economists asked a key question about the rising U.S. deficit — one that deficit doves have raised repeatedly: Why should we worry about deficits if...
Demand at Treasury Auction Is ‘Lame’

By Michael Rainey

The U.S. Treasury’s latest auction saw relatively weak demand Tuesday, with prices edging lower and interest rates moving higher. “Overall bidding at the $31 billion U.S. Treasury three-year note...
Record Budget Surplus in April

By Michael Rainey

It may seem a bit odd to talk about a budget surplus at a time of soaring deficits, but tax receipts are coming in stronger than expected in April and the Congressional Budget Office is now...
Why $21 Trillion in Debt Doesn't Bother the Credit Agencies

By The Fiscal Times Staff

The U.S national debt has surpassed $21 trillion, up 2.8 percent since the start of the year, but two of the leading credit agencies aren’t worried about the country’s ability to keep up with its...