The 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...
As Debt Costs Rise, Governments Turn to Health Care for Savings

By Michael Rainey

High levels of government debt spur governments to rein in health care costs, according to a new report from economists at Goldman Sachs. And efforts to reduce health care inflation may help explain...
Chart of the Day: Comparing Debt Costs

By The Fiscal Times Staff

The U.S. stands out from other developed countries when it comes to the cost of its government debt. Bloomberg’s Justin Fox says that the interest burden of government debt is both larger in the U.S...
Should the US Issue 100-Year Bonds?

By Michael Rainey

Treasury Secretary Steven Mnuchin said Wednesday that the U.S. is considering issuing ultra-long U.S. bonds – debt in 50- or 100-year durations. “If the conditions are right, then I would anticipate...
Is a Big Jump in Federal Spending Now Inevitable?

By Michael Rainey

A group of influential investors and policy wonks says that a major expansion of government spending appears all but inevitable in the next few years. Barry Ritholtz, a Bloomberg columnist who runs...

The President and Congress Are Fiscal Swamp Monsters

By Ivan Eland

All the recent talk in the political media has been about ideological division and partisan rancor, yet the results when progressives and nationalists and Democrats and Republicans agree should also...
Senate Sends $2.7 Trillion Budget Deal to Trump

By Michael Rainey

The Senate on Thursday approved the massive two-year budget deal passed by the House last week. President Trump is expected to sign the bill, which was negotiated by House Speaker Nancy Pelosi and...
Congress Needs Some Fiscal Rules

By Veronique de Rugy and Jack Salmon

Approval ratings for Congress are slumming at 17%. This is nothing new. With the exception of a short-lived patriotic spike following 9/11, it has been going on for decades . Yet this already failing...
What the Fed’s Rate Cut Means for the National Debt

By Yuval Rosenberg

The Federal Reserve cut its benchmark interest rate for the first time since 2008 on Wednesday, lowering the target for its overnight lending rate by a quarter point , to between 2% and 2.25%, in an...
Treasury Plans Big Jump in Debt Sales

By The Fiscal Times Staff

The U.S. Treasury announced Monday that it plans to borrow more – a lot more – than previously projected in the third quarter. Total borrowing is expected to hit $433 billion in the July-to-September...