Budget

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...
F-35 Deliveries Halted Over Repair Bill

By Michael Rainey

The F-35 Lightning II has yet to fire a shot in anger but the Pentagon is already arguing with manufacturer Lockheed Martin over a big repair bill. The Defense Department has stopped accepting most...
This State's a Big Winner When It Comes to Defense Spending

By Michael Rainey

Spending on huge weapons programs like the F-35, which has an estimated lifetime cost of more than $1 trillion, is carefully spread around the country to maximize its economic impact – and to make it...

The Problem a Balanced Budget Amendment Can’t Fix

By Michael Rainey

As reports filtered out Wednesday that House Speaker Paul Ryan plans to bring a balanced budget amendment to the House floor for a vote, in fulfillment of a pledge to Rep. Mark Walker, chair of the...
Air Force May Have to Slash Its F-35 Order

By Michael Rainey

The U.S. Air Force plans to order 1,763 F-35 Lightning II jets from Lockheed Martin, but rapidly increasing operating costs could reduce that number significantly. According to an internal analysis...
Republicans to Push for More Tax Cuts, Balanced Budget Amendment

By Michael Rainey

The Hill reports that Congress, having passed a $1.5 trillion tax cut in December and a $1.3 trillion spending package just last week, isn’t sure what to do next. Lawmakers may turn to infrastructure...
Trump Wants Pentagon to Pay for Border Wall

By Michael Rainey

President Trump is pushing for the Department of Defense to help build the border wall with Mexico, according to a report Tuesday in The Washington Post . Trump is reportedly upset about the low...
US Borrowing Nearly $300 Billion This Week

By Michael Rainey

The Treasury Department plans to sell a record $294 billion worth of bills and notes this week, according to Bloomberg . The tax cuts signed into law by President Trump are causing a decline in...