Budget

Trump Cancels His Military Parade as Costs Soar

By Michael Rainey

President Trump said Friday that he has canceled plans for a military parade in Washington this fall amid reports of rapidly rising costs. On Thursday, an unnamed source at the Pentagon told CNBC...
Is This an Economic Boom or Just a Blip?

By Michael Rainey

Most mainstream economists think the booming GDP growth recorded in the fourth quarter will ease toward the end of the year, but President Donald Trump’s chief economic adviser Larry Kudlow says...
Why Children Lose Out in the Federal Budget

By Michael Rainey

The federal government spends much less on children than it does the elderly, with the latter claiming roughly 35 percent of the annual budget. The disparity is driven in part by the government’s...
Spending Caps Could Come Roaring Back in 2020

By Michael Rainey

Congress has busted through its self-imposed spending caps for this year and next, enabling the government to spend billions more that the limits imposed by the Budget Control Act of 2011. The...
Cost of Trump’s Military Parade Rising Fast

By Michael Rainey

It looks like President Trump’s military parade is going to cost a lot more than the initial estimate suggested – about $80 million more. The Department of Defense pegged the cost of the parade at...

Congress Puts Spending Bills in Gear

By Michael Rainey

Congress is on pace to do something it hasn’t done in more than 20 years: pass all of its spending bills before the fiscal year begins on October 1. How they’re doing it: In order to move the...
Trump Wants $8 Billion to Build the Space Force

By Michael Rainey

The Trump administration wants to spend $8 billion over the next five years to establish the U.S. Space Force as a sixth branch of the military, Vice President Mike Pence said Thursday. In a speech...
The Coming Government Spending Spree

By Yuval Rosenberg

The end of the U.S. government’s fiscal year is less than two months away, and as Frank Konkel lays out at Nextgov , that means federal agencies will be on a mad dash to spend a big chunk of their...
The Deficit Is Up 20% This Year

By The Fiscal Times Staff

The federal deficit was 20 percent larger in the first 10 months of fiscal year 2018 than it was during the same time last year, the Congressional Budget Office announced Wednesday. Revenues rose 1...
$Senator Bernie Sanders (I-VT) speaks during an event to introduce the "Medicare for All Act of 2017\$

Putting a Price Tag on the Democratic Socialist Agenda

By Michael Rainey

A number of policy proposals associated with the “democratic socialist” agenda of Bernie Sanders and Alexandria Ocasio-Cortez are gaining ground in the Democratic Party and will likely play a role in...

Kudlow: Tax Cuts 2.0, 3.0 and 4.0 May Be Coming

By Yuval Rosenberg

Larry Kudlow, director of President Trump’s National Economic Council, sat down for a wide-ranging interview with CNBC’s Jim Cramer Wednesday morning in New York. Kudlow made headlines last month by...
The White House Makes a ‘Trillion-Dollar Admission’

By Yuval Rosenberg

The White House Office of Management and Budget on Friday released its updated annual budget request , known as the mid-session review. The numbers don’t mean much given that the president’s budget...
Lawmakers Battle Over Veterans Health Funding

By Yuval Rosenberg

A complicated fight over spending on a veterans health program is throwing a wrench into the congressional appropriations process for 2019. The showdown could force lawmakers to fall back on another...
F-35 Price Drops Below $90 Million: Report

By Michael Rainey

The Pentagon has made a preliminary deal with Lockheed Martin for the next batch of F-35 stealth jets, according to a Reuters report from the Farnborough Airshow in England. The “handshake agreement...
The US Now Spends $1 Billion a Year Detaining Immigrant Kids

By Yuval Rosenberg

Detaining immigrant children has become a $1 billion business, the Associated Press reported Friday. Grants from the Department of Health and Human Services (HHS) “for shelters, foster care and other...