deficit

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…

As it has often had to do over the past several years, the Congressional Budget Office (CBO) recently released a report illustrating the fiscal problems looming dead ahead for the United States. Its most recent analysis, an annual report…

The old lawyers’ adage instructs that “if you have the facts on your side, pound the facts; if you have the law on your side, pound the law; if you have neither the facts nor the law, pound the table.” The adage aptly describes how…

What’s behind California’s shift to paying for electricity based on income? In a few words, it’s the consequence of California’s futile fight against climate change. California’s quixotic pursuit to save the planet by reducing greenhouse…