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Economists: Unemployment Would Be A Full Point Lower Without Deficit...
America’s budget deficit is shrinking at a faster pace than at any time since World War II, and it is now projected to fall below 5 percent of GDP this year, 3 percent of GDP in 2014, and 2 percent of...
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Australia Drops Austerity In Favor Of Spending On Jobs
Credit: The Associated Press Conservative U.S. politicians continue to press for austerity, but on the other side of the world, Australia’s government is moving in the opposite direction. That country...
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Amid New Data About The (Shrinking) Deficit, Will Washington Finally Focus On...
The budget deficit will shrink to its smallest level since before the Great Recession in 2013, and it will continue shrinking through 2015, according to revised estimates from the Congressional Budget...
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The Latest Report On Medicare Shows The Program Is Getting Stronger
The Medicare Trustees had great news for American seniors on Friday: the program’s solvency has been extended for two full years past what the trustees predicted in 2012. In their annual report, the...
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Six Charts That Show It’s Time To Reset The Budget Debate
The conversation in Washington continues to focus on deficit reduction, even in the face of sluggish economic growth and unemployment continuing to be painfully high. The argument in favor of...
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How Denying Women Access To Reproductive Choices Costs Taxpayers
(Credit: AP/Manuel Balce Ceneta)All but 12 House Republicans voted for the Pain-Capable Unborn Child Protection Act two weeks ago, which would ban abortions in the country 20 weeks after...
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The Politics Behind Obama’s New Jobs Plan
CREDIT: Shutterstock In the President’s last weekly address (August 3), he offered the following deal to Republicans, which he termed a “grand bargain for the middle class:” simplify the tax code in...
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Deficit On Track To Shrink To Smallest Gap Since The Recession
CREDIT: Shutterstock The Congressional Budget Office (CBO) is projecting a deficit of $642 billion for the fiscal year that ends September 30, which would be the smallest since 2008 and is down from...
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Deficit Falls To Lowest Level Since 2008, Discrediting Argument For More Cuts
New Treasury Department figures confirm what the Congressional Budget Office (CBO) projected in the spring: the budget deficit for fiscal year 2013 will be dramatically lower than it was the past four...
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European Union Officials Ease Austerity Requirements
At a meeting this week in Brussels, European finance officials approved a change to budget policies that would lighten the burden of austerity requirements on many struggling European Union countries,...
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The Government Shutdown Will Probably Increase The Deficit
CREDIT: AP The economic cost of Congress’ failure to avert a shutdown is quickly mounting, to the tune of $300 million a day. Now, financial analysts say the shutdown could also worsen the nation’s...
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Boehner Proposes ‘Super Committee’ To End Standoff That Could Only Consider...
CREDIT: Michael Reynolds, EPA Just three days after House Speaker John Boehner (R-OH) said the nation would default on its debt if President Obama does not agree to Republicans’ demands to cut...
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The Deficit Is Less Than Half What It Was In 2009
On Thursday, the Treasury Department announced that the U.S. government’s fiscal year 2013 deficit has fallen below $1 trillion for the first time in five years, noting that the improving economy and...
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Government Investment Hits Lowest Level Since World War II
Gross capital investment from the public sector, or government spending on infrastructure, scientific research, education, and other long-term priorities, has fallen below any level since World War...
View ArticleA Carbon Tax Would Cut The Deficit By $1 Trillion
A carbon tax of $25 per ton of emissions would cut the deficit by $1 trillion over a decade, according to the Congressional Budget Office (CBO). The finding was part of a report CBO just put out...
View ArticleUnited States Notches Record $53 Billion Budget Surplus In December
Revenue exceeded spending by $53 billion in December, a record budget surplus for the month that reflects the U.S. government’s success at cutting deficits in recent years. The record surprised...
View ArticleThe Deficit Keeps Falling, So Why Is Congress Leaving The Unemployed In The...
Harry Stein is the Associate Director of Fiscal Policy at the Center for American Progress Action Fund. A new report from the nonpartisan Congressional Budget Office (CBO) projects that budget deficits...
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The Deficit Fell Faster Last Year Than Any Since The End Of World War II
The federal budget deficit fell faster last year than in any year since the end of World War II, according to a Treasury Department report on Thursday. It declined from $1.1 trillion in 2012 to $680...
View ArticleThe Budget Deficit In March Was The Smallest Since 2000
The federal budget deficit for the first half of this year was $413 billion, a decline of $187 billion compared to the same time last year, according to the Treasury Department. The deficit for the...
View ArticleThe Republicans’ Sneaky Plan To Make It Much Easier To Pass Massive Tax Cuts...
On Tuesday, the House will vote on whether the the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) will be required to use “dynamic scoring” when they quantify the impact of a...
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