Budget Deficit News
The Daily Signal reports on budget deficit news, with analysis and commentary on government spending, debt, and fiscal responsibility.
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- News
Republicans Divided on Budget Reconciliation Gamble for SAVE America Act
Republicans are turning to budget reconciliation to pass the SAVE America Act into law, but some doubt the process will result in the election integrity measures offered in the current version of the bill. “There’s a lot of support for a budget reconciliation bill,” Majority Leader Thune, R-S.D., told press this week. While the budget…Virginia Grace McKinnon -
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Budget Chairs Push Reconciliation 2.0. Can It Get Off the Ground?
Republican Sen. Lindsey Graham says a party-line budget bill could enact major conservative legislative goals, from funding the Department of Homeland Security to requiring photo identification in elections. But does his ambitious plan have buy-in from the House conservatives whose support it needs to pass? “The Senate [Budget] Committee will expeditiously move toward creating a…George Caldwell -
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US January Budget Deficit Falls to $95 Billion as Revenue Gains Outpace Spending Growth
WASHINGTON, Feb. 11 (Reuters)—The U.S. government posted a $95 billion budget deficit in January, down $34 billion, or 26%, from a year earlier as revenue gains, including customs duties, outpaced growth in outlays, the Treasury Department said on Wednesday. Adjusting for routine calendar shifts in benefit payments due to holidays, weekends, and other factors in…David Lawder -
- Opinion
Education Budget Reversal Ignores Decades of Failure
Rep. Rosa DeLauro criticized House Republicans last fall for passing a downsized education budget, accusing them of attempting to “eliminate public education” and “decimate support for children in K-12 schools.” The charge was overdramatized and incorrect. Federal education funding accounts for roughly 10% of total K-12 spending nationwide. Despite decades of increasing federal investment, student…Madison Marino Doan -
- News
Bluey and Bannon Reveal How Congress Can Balance the Budget
President of The Daily Signal Rob Bluey called on Republicans in Congress to massively reduce the national deficit, telling host Steve Bannon during a Tuesday appearance on “War Room,” “Think about how much more progress we can make and the economic juice we can give this White House if we were able to also reduce…Bradley Devlin -
Biden’s Budget Deficit Victory Lap Is Unearned and Unjustified
President Joe Biden is taking victory laps for last year’s reduced budget deficit. No one would be happier than me to see this number fall in a significant way. But the decline has nothing to do with the president’s policies, and it changes little about the dangers of our fiscal situation. According to monthly reporting…Veronique de Rugy -
Americans Less Focused on Budget Deficits. Why Experts Say That’s a Problem
As Congress gears up to mount discussions on their fiscal books, a new report has found that Americans’ focus on deficits is waning. However, the economic outlook for the next 10 years has budget experts saying that both the American people and their elected officials should turn their attention to government spending and federal deficits….Melissa Quinn -
Obama Celebrates a Drop in the Budget Deficit as the National Debt Balloons
The Obama administration is trumpeting a shrunken federal deficit as new justification for more spending and an end to mandatory budget cuts. The Congressional Budget Office, though, already has warned of “dramatic” debt trouble ahead. The Department of Treasury last week released the numbers for fiscal year 2015, announcing a $44-billion drop in the deficit from…Philip Wegmann -
New Report: Over Next Decade, Budget Deficits Will Hit Trillion-Dollar Mark
You’ve probably heard the claim that deficits have been cut in half and are at the smallest level since 2009, implying that the nation has corrected its fiscal course. But that’s not nearly whole story. The Congressional Budget Office’s latest “Updated Budget Projections: 2015 to 2025,” which details spending, revenues and deficits, shows that while…Romina Boccia