Budget

Judge Blocks Trump Plan to Divert $3.6 Billion in Military Funds to Border Wall

By Yuval Rosenberg

A federal judge in Texas on Tuesday blocked the Trump administration’s plan to divert $3.6 billion in military funds toward construction of barriers along the border with Mexico. District Court Judge...
$738 Billion Defense Bill Authorizes Space Force and New Benefits for Federal Workers

By Michael Rainey

It looks like Space Force has earned its wings. The leaders of the House and Senate Armed Services Committees announced late Monday an agreement on the 2020 National Defense Authorization Act, which...
The Terrible Cost of the War in Afghanistan

By Yuval Rosenberg

The war in Afghanistan is the longest armed conflict in U.S. history, and throughout the 18 years of fighting, U.S. officials have publicly said they were making progress. Yet a new investigative...
The Fiscal Challenge for the Next Recession

By Yuval Rosenberg

The federal budget deficit for fiscal year 2019 was nearly $1 trillion. “In the next downturn, don’t be surprised if this number hits $2 trillion,” writes Nick Timiraos, The Wall Street Journal’s...
Is Trump's $28 Billion Bailout Paying Farmers Too Much?

By Michael Rainey

The Trump administration is spending $28 billion to bail out farmers hurt by the president’s trade war with China – a huge sum that some experts say overestimates the economic losses inflicted by the...

New Trump Food Stamp Rule Will Cut 700,000 from Program

By Michael Rainey

The White House said Wednesday that it has finalized a rule that will tighten work requirements for participants in the Supplemental Nutrition Assistance Program, or SNAP. The new rule could result...
Navy Awards Largest Shipbuilding Contract Ever

By Michael Rainey

The U.S. Navy awarded a contract Monday worth more than $22 billion to build nine new attack submarines. The agreement with General Dynamics Electric Boat includes an option for a 10 th sub, which...
On Congress’s To-Do List: Prevent a Shutdown in 18 Days

By Yuval Rosenberg

Congressional appropriators back from their Thanksgiving recess have just three weeks to hammer out details on dozens of policy differences over federal funding for fiscal year 2020, which started on...
Chart of the Day: Record Low Poverty Rate

By Michael Rainey

The extensive array of government assistance programs — including Social Security, unemployment insurance, veterans’ benefits, nutritional aid, rental assistance and the Earned Income Tax Credit —...
Trump Scores a Win From NATO, but Fireworks Ahead

By Michael Rainey

Ahead of NATO’s 70th-anniversary meeting in London this week, Secretary-General Jens Stoltenberg announced last Thursday that the U.S. will contribute less to the alliance’s relatively small central...

Biggest Contract Yet for the F-35

By The Fiscal Times Staff

The Pentagon is close to a final agreement with Lockheed Martin for the largest batch of F-35 stealth jets, Bloomberg’s Julie Johnsson and Anthony Capaccio reported Monday. The contract for 478 jets...
US Navy Can’t Afford a 355-Ship Fleet: Admiral

By Michael Rainey

In 2016, the U.S. Navy set a goal of growing its fleet to 355 ships, but a high-ranking admiral said Friday that there isn’t enough money in the budget to reach that target. “Will we get to 355-ships...
Does Impeachment Mean Nothing Else Gets Done in Washington This Year?

By Michael Rainey

Some lawmakers are expressing concerns that the unfolding impeachment process is putting a halt to the legislative agenda for the foreseeable future, The Hill’s Jordain Carney reports. “The House...
Budget Deficit Rose 26% in 2019, to Near $1 Trillion: Treasury

By Michael Rainey

The federal government’s budget deficit grew to $984 billion in fiscal year 2019, the U.S. Treasury announced Friday. The final tally for 2019 is $205 billion larger than in 2018, a 26% increase. As...
Dem Senators Demand Answers on Money Wasted by Former HHS Secretary Tom Price

By Yuval Rosenberg

Democratic Sens. Elizabeth Warren, Patty Murray and Ron Wyden sent a letter to Health and Human Services (HHS) Secretary Alex Azar Wednesday asking when the administration will recoup hundreds of...