Budget

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...
Congress Makes a Deal on 2020 Spending, but the Budget Battle Is Far from Over

By Michael Rainey

Lawmakers took a big step over the weekend toward reaching a spending deal for the 2020 fiscal year, though a major hurdle — funding for President Trump’s border wall — remains in place. On Saturday...
States Boost Spending at Fastest Pace Since Great Recession

By Yuval Rosenberg

U.S. states increased spending in fiscal year 2019 at the fastest clip since the end of the Great Recession, according to a new report from the National Association of State Budget Officers. Total...

Democrats Propose New Tax on Millionaires

By Michael Rainey

Two Democratic lawmakers unveiled a plan Thursday that would raise taxes on high-income households. Sen. Chris Van Hollen of Maryland and Rep. Don Beyer of Virginia are proposing a 10-percentage...
Senate Committee Approves Budget Reforms

By The Fiscal Times Staff

The Senate Budget Committee on Wednesday approved a bipartisan bill that aims to reform the federal government’s budget process. The Bipartisan Congressional Budget Reform Act “would provide a more...
Number of the Day: Federal Salaries Lag Private Sector by 27%, Report Says

By Yuval Rosenberg

Salaries for federal employees are nearly 27% lower, on average, than those for their private-sector counterparts, according to figures reported Tuesday by the Federal Salary Council, an advisory...
Trump Open to Extending Shutdown Deadline: Report

By Yuval Rosenberg

Just two days after President Trump raised fresh concerns about the possibility of a government shutdown when stopgap federal funding expires on November 21, the White House said Tuesday that it is...
Trump Won’t Rule Out Another Shutdown

By Michael Rainey

Some of President Trump’s critics are worried that he might allow the government to shut down when funding runs out on November 21, in an effort to deflect attention from the ongoing impeachment...