Budget

Why Trump’s Space Force May Have Trouble Getting Off the Ground

By Michael Rainey

President Trump’s surprise announcement about the creation of a new “Space Force” branch of the military is already meeting resistance in Congress and the Pentagon. According to The Hill , senators...
Trump’s Plan to Overhaul the Government

By Yuval Rosenberg

The Trump administration on Thursday unveiled a sweeping proposal to reorganize the federal government by merging departments, shrinking agencies, consolidating social safety net programs, selling...
Everything You Need to Know About the New GOP Budget

By Yuval Rosenberg

House Republicans released a 2019 budget proposal Tuesday that, though it stands little chance of advancing, signals the party’s priorities: The blueprint would balance the budget in nine years by...
The High Cost of Trump's Border Crisis

By Michael Rainey

In an abrupt reversal in the face of mounting political and public pressure, President Trump on Wednesday signed an executive order to end the separation of migrant children from their parents at the...
Trump Again Threatens a Government Shutdown Over Border Wall Funding

By Yuval Rosenberg

Angry over the lack of full, upfront funding for his border wall with Mexico, President Trump reportedly threatened to shut down the government in September. Politico reports that Trump “fumed to...

The Politics Behind Permanent Trillion-Dollar Deficits

By Yuval Rosenberg

Budget Guy Stan Collender writes that budget deficits under the Trump administration are projected to hit $1 trillion in 2020 — and keep rising to $1.5 trillion in fiscal 2028. “But what’s most...
House Committee to Mark Up Doomed 2019 Budget

By Yuval Rosenberg

House Budget Committee Chairman Steve Womack (R-AR) announced Monday that his panel will hold a two-day markup of the fiscal 2019 budget resolution on Wednesday and Thursday. The resolution...
Another Way Trump’s Trade War Could Hurt the US

By Yuval Rosenberg

Peter Boockvar, chief investment officer at the Bleakley Advisory Group, adds another wrinkle to the dangers of an emerging trade war. In a Monday morning email, Boockvar notes that foreigners were...
Trump Calls for the Military to Add a Space Force

By Michael Rainey

President Trump ordered the Defense Department on Monday to take steps toward creating a new branch of the military focused on space. "I am hereby directing the Department of Defense and Pentagon to...
Is Trump Really Saving Money by Canceling ‘War Games’ in South Korea?

By Michael Rainey

President Trump announced Tuesday that the extensive joint military exercises the U.S. regularly holds with South Korea will cease as he seeks to improve relations with North Korea. In addition to...

Farm Bill Failure Underscores a Divided GOP

By Yuval Rosenberg

The House on Friday failed to pass an $867 billion farm bill after conservatives withheld their support as part of a simmering internal fight over immigration. The vote was 198-213, with 30...
US Fertility Just Hit a 30-Year Low. Why That's a Problem for Social Security

By Michael Rainey

Births in the U.S. fell to a multi-decade low last year, according to data from the National Center for Health Statistics released Tuesday. The provisional estimate shows 3.85 million births in the U...
What the War on Terror Has Cost Since 9/11

By Michael Rainey

The U.S. has spent roughly $2.8 trillion fighting terrorism since 9/11, according to a new analysis from the nonpartisan Stimson Center, a think tank focused on security issues. A study group at the...
Want to Balance the Budget? We’ll Need 5% Growth to Get There

By Michael Rainey

The federal government will start spending $1 trillion more than it raises in taxes in 2019, and the deficit is expected to remain above that level for the foreseeable future. It’s widely agreed that...
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...