How Donald Trump and Elon Musk Could Cut $2 Trillion in Government Spending
If Musk is truly serious about fiscal discipline, he'll advise the president-elect to eschew many of the policies he promised on the campaign trail.
Budget
The House Is Democrats' Best Chance To Check Trump's Executive Powers
With control of the House still undecided, a Democratic majority could serve as the strongest check on Trump's worst impulses.
Who's Gary Johnson Voting For?
The two-time Libertarian Party presidential nominee shares his thoughts on Chase Oliver and the election.
Biden and Harris' Record on Spending and Debt Is a Tragedy of Epic Proportion
When they entered the White House, the budget deficit was a pandemic-influenced $2.3 trillion, and it was set to fall to $905 billion by 2024. It's now twice what it was supposed to be.
Rand Paul's Plans To Balance the Budget Are a Useful Illustration of Congress' Addiction To Borrowing
The budget could be balanced by cutting just six pennies from every dollar the government spends. It used to require even less.
Congress Fails the Budget Test, Again
Despite promises to pass orderly budgets, the House GOP is poised to approve yet another stopgap spending measure.
The Cutting Edge
Plus: The Federal Reserve cut interest rates, Congress still isn't cutting spending, and more....
Take Two
Plus: The Senate wrestles with IVF funding, a dictator dies, and SpaceX passengers conduct the first-ever private spacewalk.
Idaho Child Care Program Faces $16 Million Deficit as Bureaucrats Overextend Benefits
As conservatives push for cuts, lasting reform will require closing accountability gaps and restructuring entitlements.
Trump's Proposals Would Add $5.8 Trillion to the Deficit
Vice President Kamala Harris would add about $2 trillion to the deficit.
What Milton Friedman Got Wrong About Immigration and the Welfare State
He was wrong to think "You cannot simultaneously have a welfare state and free immigration."
Mike Pence's Sensible (and Probably Doomed) Plan To Fix the National Debt
Lawmakers must be willing to reform so-called "mandatory spending," Pence's nonprofit argues in a new document.
The Real Economic Catastrophe Will Be Caused by the U.S. Debt
Should we blame Biden and the politicians applauding him for their unwillingness to address our looming fiscal disaster?
'The Problem Is Spending': Libertarian Presidential Nominee Chase Oliver's Vision for the Future
The candidate supports gun rights, wants to privatize government programs, and would radically reduce the number of federal employees.
The National Debt Is Crossing an Ominous Line
The U.S. has successfully navigated past debt challenges, notably in the 1990s. Policymakers can fix this if they find the will to do so.
At the Presidential Debate, Biden Says He 'Beat Medicare'
Biden's incoherence and Trump's comparatively cogent lies demonstrate just how poorly the two-party system serves supporters of small government.
America Is in a Debt Crisis. Will Trump or Biden Address It at the Debate?
The candidate who grasps the gravity of this situation and proposes concrete steps to address it will demonstrate the leadership our nation now desperately needs. The stakes couldn't be higher.
Federal Budget Deficit Forecast Jumps $400 Billion, Fueled by Student Debt Forgiveness
The Congressional Budget Office reports the 2024 budget deficit will near $2 trillion.
The Supreme Court May Be on the Brink of Radically Restricting Bureaucrats' Power
Chevron deference, a doctrine created by the Court in 1984, gives federal agencies wide latitude in interpreting the meaning of various laws. But the justices may overturn that.
The National Debt Is Now So High That Every American Essentially Owes $100,000
We could grow our way out of our debt burden if politicians would limit spending increases to just below America's average yearly economic growth. But they won't even do that.
Congress' Budget Process Is Broken. Here's One Idea for Fixing It.
Lawmakers should be freed from "the dead hand of some guy from 1974," says former Congressional Budget Office director.
Congress Yet Again Abuses 'Emergency Spending' for Non-Emergency Purposes
Let's just call this what it is: another gimmick for Congress to escape its own budget limits and avoid having a conversation about tradeoffs.
Say No to This: America's Fiscal Norms Are in Decline
Despite their informal nature, those norms have historically constrained U.S. fiscal policy. But they're eroding.
A GOP Plan To Raise the Retirement Age Reveals How Unserious Washington Is About Social Security
An obvious, tepid reform was greeted with shrill partisan screeching.
The National Debt Is a National Security Issue
The growing debt will "slow economic growth, drive up interest payments," and "heighten the risk of a fiscal crisis," the CBO warns.
A Bipartisan Tax Hike Won't Fix This Deficit
The government needs to cut back on spending—and on the promises to special interests that fuel the spending.
Republicans Use Fuzzy Math To Claim Large FBI, ATF Cuts in Budget Bill
The total appropriations package would cut $200 billion over 10 years, as the national debt expands by $20 trillion.
New Budget Deal Includes $12 Billion 'Cut' That Doesn't Actually Cut Anything
Anatomy of a budget gimmick.
Congress Wastes Billions With Bogus Emergency Declaration
And it isn't the first time.
'Super' Week
Plus: A partial budget deal, Super Tuesday, the State of the Union, Harris calls for a cease-fire, and more...
Brian Riedl: Who Bankrupted Us More—Trump or Biden?
"I'm concerned about a Trump-Biden rematch," argues Riedl. "You have two presidents with two of the worst fiscal records of the past 100 years."
Is Another Government Shutdown Coming?
Next week, Congress will have to choose between a rushed omnibus bill or a long-term continuing resolution that comes with a possible 1 percent spending cut.
Shrinkflation Is Real—and It's Largely Biden's Fault
The president criticized companies for selling "smaller-than-usual products" whose "price stays the same." But it was his and his predecessor's spending policies that caused the underlying issue.
Biden's Cognitive Shrinkflation
Plus: A listener asks if the state of Oregon’s policy on drug decriminalization should be viewed as a success.
Immigration Could Reduce the Deficit by at Least $1 Trillion Over the Next Ten Years
But the Congressional Budget Office projection assumes we will not cut immigration levels, as is likely to happen if Trump returns to power.
Federal Government Will Borrow Another $20 Trillion in the Next Decade
Three things to know about the new Congressional Budget Office report on the growing federal deficit.
How Increasing Immigration Can Reduce the Deficit
And why the Congressional Budget Office does a poor job of making those estimates.
David Stockman: Trump's War on Capitalism and Freedom
Reagan's former budget director says Donald Trump killed prosperity—and the GOP's core beliefs in capitalism and freedom.
Interest Rates Are High. GOP Presidential Candidates Need To Get Serious About It.
They will either reduce the ability to spend money or to cut taxes.
The Trump Train Rolls Through Iowa
Plus: A listener asks the editors if there are any bad laws that might discourage people from having kids.
Why a Huge Budget Deficit Might Be Good News for California
California is facing a projected deficit of $68 billion, a larger amount than the entire annual budget of the state of Florida.
All I Want for Christmas Is for Congress To Exercise Fiscal Restraint
Lawmakers can take small steps that are uncontroversial and bipartisan to jumpstart the fiscal stability process.
Welcome to the Hyperbole Factory
Plus: A listener asks the editors to consider the libertarian argument against shopping local.
Congress Is Trying To Avoid Taking Responsibility for the Debt Crisis It Created
A fiscal commission might be a good idea, but it's also the ultimate expression of Congress' irresponsibility.
Congress Admits It Has a Debt Problem, but Will It Do Anything?
Servicing debt grows more expensive as the deadline to curb the spending spree gets closer.
Here's One Way To Move Toward Responsible Government and Sane Fiscal Policy
The Copenhagen Consensus has long championed a cost-benefit approach for addressing the world's most critical environmental problems.
The U.S. Needs a Fiscal Commission Because Congress Won't Do Its Job
In the last 50 years, when the budget process has been in place, Congress has managed only four times to pass a budget on time.
20 Years to Disaster
"The United States has about 20 years for corrective action after which no amount of future tax increases or spending cuts could avoid the government defaulting on its debt."
