trillion dollar deficits

Here’s Why Trends in Federal Spending Raise Fears for Economy

Both chambers of Congress are locked in fierce battles over spending legislation. A “supplemental” package has found bipartisan support in the Senate after the removal of flawed border and immigration provisions. However, its $95 billion price tag—$60 billion of which would go to Ukraine—means there will be stiff resistance in the House. Meanwhile, Congress is […]

Budget Deal Being Floated Does Little to Curb Spiraling Debt

In May 2023, when then-Speaker of the House Kevin McCarthy negotiated a debt limit deal that included spending limits, the gross national debt stood at just under $31.5 trillion. Conservatives in the House were deeply upset about the debt deal, which contained fraudulent gimmicks to get around the announced spending limits. Less than eight months […]