Budget

Congressional Negotiators Strike Spending Deal to Avoid a Pre-Christmas Shutdown

By Yuval Rosenberg

Congressional appropriators have reportedly reached a deal “in principle” to fund the federal government for the rest of the fiscal year and avert a potential shutdown at the end of next week. The...
Judge Blocks Trump Plan to Divert $3.6 Billion in Military Funds to Border Wall

By Yuval Rosenberg

A federal judge in Texas on Tuesday blocked the Trump administration’s plan to divert $3.6 billion in military funds toward construction of barriers along the border with Mexico. District Court Judge...
$738 Billion Defense Bill Authorizes Space Force and New Benefits for Federal Workers

By Michael Rainey

It looks like Space Force has earned its wings. The leaders of the House and Senate Armed Services Committees announced late Monday an agreement on the 2020 National Defense Authorization Act, which...
The Terrible Cost of the War in Afghanistan

By Yuval Rosenberg

The war in Afghanistan is the longest armed conflict in U.S. history, and throughout the 18 years of fighting, U.S. officials have publicly said they were making progress. Yet a new investigative...
The Fiscal Challenge for the Next Recession

By Yuval Rosenberg

The federal budget deficit for fiscal year 2019 was nearly $1 trillion. “In the next downturn, don’t be surprised if this number hits $2 trillion,” writes Nick Timiraos, The Wall Street Journal’s...

Is Trump's $28 Billion Bailout Paying Farmers Too Much?

By Michael Rainey

The Trump administration is spending $28 billion to bail out farmers hurt by the president’s trade war with China – a huge sum that some experts say overestimates the economic losses inflicted by the...
New Trump Food Stamp Rule Will Cut 700,000 from Program

By Michael Rainey

The White House said Wednesday that it has finalized a rule that will tighten work requirements for participants in the Supplemental Nutrition Assistance Program, or SNAP. The new rule could result...
Navy Awards Largest Shipbuilding Contract Ever

By Michael Rainey

The U.S. Navy awarded a contract Monday worth more than $22 billion to build nine new attack submarines. The agreement with General Dynamics Electric Boat includes an option for a 10 th sub, which...
On Congress’s To-Do List: Prevent a Shutdown in 18 Days

By Yuval Rosenberg

Congressional appropriators back from their Thanksgiving recess have just three weeks to hammer out details on dozens of policy differences over federal funding for fiscal year 2020, which started on...
Chart of the Day: Record Low Poverty Rate

By Michael Rainey

The extensive array of government assistance programs — including Social Security, unemployment insurance, veterans’ benefits, nutritional aid, rental assistance and the Earned Income Tax Credit —...

Senate Passes Short-Term Spending Bill to Prevent Friday Shutdown

By Yuval Rosenberg

The Senate passed a stopgap bill Thursday to keep the government open through December 20, sending the measure to President Trump’s desk hours before current funding was set to expire. The president...
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...
Pentagon Fails Audit – Again

By Michael Rainey

The second audit of the Department of Defense ended the same way as the first one: with a failing grade. The fiscal 2019 audit examined more than $2.9 trillion in assets and $2.8 trillion in...
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...
House Votes to Push Shutdown Deadline to December

By Yuval Rosenberg

The House on Tuesday passed a stopgap measure to fund the government through December 20. The Senate is set to take up the bill before current short-term funding expires on Thursday night, and the...