deficit

James Carville may not be right about many things in politics, but one of his truisms from three decades ago held true in recent days. In 1994, Carville quipped that he had changed his mind about wanting to be reincarnated as the pope or a…

Americans have seen a lot of Tim Walz lately as the failed vice-presidential candidate has held town halls nationally criticizing national Republicans. In a telling interview, he admitted to the New York Magazine this week, “90% of the…

While the putative Department of Government Efficiency represents a first step in controlling federal spending, other initiatives by the Trump administration could unfortunately have the opposite effect. Witness recent comments by Commerce…

The Friday before Inauguration Day, the Congressional Budget Office (CBO) illustrated the fiscal challenge facing President Trump and the new Republican Congress. In a short version of its annual Budget and Economic Outlook, CBO quantified…

Both in his first term and since the November election, Donald Trump has pointed to a rising stock market as an endorsement of his policies. He would be wise to keep his eyes focused on another key economic indicator. As the Federal Reserve…

Members of Congress may have decamped Washington to campaign for reelection, but in nondescript buildings near Capitol Hill, federal budget gnomes continue their work. The Congressional Budget Office (CBO) recently released two reports…

Economists sounded surprised recently when inflation remained above expectations for the third straight month, likely keeping interest rates elevated for the foreseeable future. If they looked in Washington’s direction, they shouldn’t be.…

If you think our current fiscal situation, with $2 trillion deficits, looks bleak, the recent Congressional Budget Office (CBO) outlook for the years ahead has news for you: You ain’t seen nothing yet. As it has for many years, the document…

Residents in the Golden State are learning a basic yet painful lesson in economics: If you tax something, you get less of it. That’s the upshot of reports from over the holidays that California restaurants have begun furloughing workers in…

In the 12 fiscal months that ended on Sept. 30, the federal deficit effectively doubled compared to 2022. And the fact that Washington would run such high deficits in comparatively good economic times speaks to both the structural problems…