About those tax cuts that are supposed to pay for themselves

Oct 18, 2018
There’s been a lot of talk lately about the budget deficit, which, at last count, is up 17 percent over last year. That’s what happens when the government spends $779 billion more than it collects in revenue, also known as…
Senate Majority Leader Sen. Mitch McConnell listens during a news briefing after a weekly Senate Republican policy luncheon Oct. 10, 2018. McConnell blames the budget deficit on social security and Medicare.  
Alex Wong/Getty Images

About those tax cuts that are supposed to pay for themselves

Oct 18, 2018
There’s been a lot of talk lately about the budget deficit, which, at last count, is up 17 percent over last year. That’s what happens when the government spends $779 billion more than it collects in revenue, also known as…
Senate Majority Leader Sen. Mitch McConnell listens during a news briefing after a weekly Senate Republican policy luncheon Oct. 10, 2018. McConnell blames the budget deficit on social security and Medicare.  
Alex Wong/Getty Images

How much U.S. debt is too much?

Oct 16, 2018
Balancing the federal budget is a bigger deal for politicians than economists.
The United States could simply make more money to pay its bills, said Stephanie Kelton, an economics professor at Stony Brook University. But taken to an extreme, that could lead to higher inflation.
Mark Wilson/Getty Images

How much U.S. debt is too much?

Oct 16, 2018
Balancing the federal budget is a bigger deal for politicians than economists.
The United States could simply make more money to pay its bills, said Stephanie Kelton, an economics professor at Stony Brook University. But taken to an extreme, that could lead to higher inflation.
Mark Wilson/Getty Images

Federal deficit rises to six-year high following last year's tax cut

Oct 16, 2018
The U.S. government is spending more and taking in less. The Treasury Department reported on Monday that the federal deficit has increased this past budget year to $779 billion, the largest deficit since 2012. The biggest culprit is last year’s…

Federal deficit rises to six-year high following last year's tax cut

Oct 16, 2018
The U.S. government is spending more and taking in less. The Treasury Department reported on Monday that the federal deficit has increased this past budget year to $779 billion, the largest deficit since 2012. The biggest culprit is last year’s…

Numbers don't back up Trump on tariffs paying down debt

Aug 6, 2018
President Donald Trump tweeted about the economy this weekend and made this claim: “Because of tariffs we will be able to start paying down large amounts of the $21 Trillion in debt.” He’s right about the size of the debt,…

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The GOP tax plan and the federal debt … why does it matter?

Dec 4, 2017
The tax cuts the Senate approved in the wee hours of Saturday morning are expected to add at least $1 trillion to the federal deficit over the next decade. That’s according to the Senate’s own Joint Committee on Taxation. And…