Budget

$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...
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...

Fighting Corruption in Ukraine? Trump’s Budgets Suggest Otherwise

By Michael Rainey

President Trump has insisted that the controversial delay in the disbursement of military aid to Ukraine earlier this year was driven by his deep concerns about corruption in the Eastern European...
Warren Proposes to Increase Spending on Public Education by $800 Billion

By Michael Rainey

Sen. Warren released an education plan Monday that calls for raising federal funding for public schools to $450 billion over 10 years, roughly four times current levels, according to Bloomberg News...
A November Government Shutdown Is Growing More Likely

By Michael Rainey

The dizzying whirl of events in Washington on Wednesday – including a House vote condemning President Trump’s withdrawal of U.S. troops from northern Syria and an explosive meeting at the White House...
Trump Signs Executive Order Aimed at Curbing New Agency Spending

By Yuval Rosenberg

President Trump on Thursday signed an executive order aimed at cutting spending at federal agencies by requiring them to offset any increased outlays on mandatory programs with other cuts. The “...
Trump Suffers Two Legal Defeats on Immigration and Border Policies

By Yuval Rosenberg

The Trump administration suffered a pair of legal defeats on major immigration policies Friday, as a federal judge in Texas ruled that the president acted unlawfully in declaring a national emergency...