Budget

Sports Gambling May Not Be a Jackpot for States

By Elaine S. Povich, Stateline

Some states were getting ready to jump into sports gambling even before the U.S. Supreme Court legalized it last week, lining up legislation that would allow their states to cash in as quickly as...
Rates on US Bonds Now Higher Than for Other Developed Countries

By The Fiscal Times Staff

Rising interest rates in the U.S. have pushed the yield on 10-year Treasury bonds higher than the yields for similar government bonds from seven major developed countries for the first times since...
More NATO Nations Meeting the 2% Pledge

By Michael Rainey

President Trump met with NATO Secretary General Jens Stoltenberg last week, offering the president an opportunity to highlight recent increases in military spending in Europe. “[W]e’ve increased and...
3 Big Risks the US Faces as Debt Levels Soar

By Yuval Rosenberg and Michael Rainey

In a new note to clients, Goldman Sachs economists say that U.S. fiscal outlook “is not good.” If you’re reading this you likely already knew that the picture isn’t pretty — but the new Goldman Sachs...
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...
Congress Has a Lot to Do Before Summer Break

By Michael Rainey

With the tax cuts passed and the White House increasingly focused on foreign policy, Republicans in Congress have set many of their top agenda items – from Obamacare repeal to immigration reform – on...

The Problem a Balanced Budget Amendment Can’t Fix

By Michael Rainey

As reports filtered out Wednesday that House Speaker Paul Ryan plans to bring a balanced budget amendment to the House floor for a vote, in fulfillment of a pledge to Rep. Mark Walker, chair of the...
Air Force May Have to Slash Its F-35 Order

By Michael Rainey

The U.S. Air Force plans to order 1,763 F-35 Lightning II jets from Lockheed Martin, but rapidly increasing operating costs could reduce that number significantly. According to an internal analysis...
Republicans to Push for More Tax Cuts, Balanced Budget Amendment

By Michael Rainey

The Hill reports that Congress, having passed a $1.5 trillion tax cut in December and a $1.3 trillion spending package just last week, isn’t sure what to do next. Lawmakers may turn to infrastructure...
Trump Wants Pentagon to Pay for Border Wall

By Michael Rainey

President Trump is pushing for the Department of Defense to help build the border wall with Mexico, according to a report Tuesday in The Washington Post . Trump is reportedly upset about the low...
US Borrowing Nearly $300 Billion This Week

By Michael Rainey

The Treasury Department plans to sell a record $294 billion worth of bills and notes this week, according to Bloomberg . The tax cuts signed into law by President Trump are causing a decline in...