The Debt

Does the Deficit Matter? Congress Asks Four Top Economists

By Yuval Rosenberg and Michael Rainey

Wednesday’s impeachment hearings will rightly dominate headlines given the bombshells in Ambassador Gordon Sondland’s testimony, but they weren’t the only hearings happening in Congress. The House...
How the Deficit Looms Over the Democratic Presidential Race

By Yuval Rosenberg

Democrats are set to hold another presidential primary debate Wednesday night, and if the pattern from past debates holds true, we’ll likely hear the 10 candidates on stage talk a lot about health...
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...

Can Lawmakers Avoid a Fiscal Fiasco?

By Yuval Rosenberg

Congress has until the end of September to fund the government for the next fiscal year and avoid another shutdown. It might have even less time to raise the government’s borrowing limit and avoid a...
Larry Kudlow Again Says That US Debt Isn’t a Problem

By Michael Rainey

Larry Kudlow, director of the National Economic Council, said Tuesday that in his view the $22.5 trillion national debt is not a pressing issue. "I don't see this as a huge problem at all right now...
Kamala Harris Smacked Down a Question on How to Pay for Progressive Agenda

By Yuval Rosenberg

Sen. Kamala Harris shook up the Democratic presidential primaries with her debate performance Thursday night. She’s widely seen as the clear winner from the second night of the debates, having...
Zero Interest Rates Ahead?

By Michael Rainey

Reflecting on the latest budget projections from the Congressional Budget Office, which show relentlessly rising debt and interest costs over the next 30 years, Bloomberg’s Noah Smith says that one...
Growth of US Debt Slows, but Record Levels Still Ahead

By Michael Rainey

The national debt will reach “unprecedented levels” over the next 30 years, according to the new long-term budget outlook released Tuesday by the Congressional Budget Office. Federal outlays will...