White House appears ready to negotiate. President Biden has submitted his budget to Congress. The $6.8 trillion budget addresses four main areas—deficit reduction, lower costs for families, Medicare…
Read MoreFederal Spending
CBO Director Calls for Cutting Deficit Spending in Half
Debt could stabilize in 10 years. Congressional Budget Office Director Phillip Swagel said that reducing deficit spending by 50 percent, as measured as a percentage of the country’s…
Read More
President’s Budget Includes Tax Increases
Increases focus on the wealthy and big corporations. President Biden promised a budget that would accomplish many things during his State of the Union address last month, including…
Read More
Social Security Could Get Age Benefit Changes
The solvency of the program is at the heart of discussions. Changing the age requirement for receiving Social Security benefits is under consideration by a bipartisan group of…
Read More
Bill Would Cut $100 Billion from Defense Budget
It is part of the debate over the debt ceiling. Representatives Barbara Lee of California and Mark Pocan of Wisconsin introduced the “People Over Pentagon Act” Wednesday. The…
Read More
CBO Predicts Summer Government Default
The rise of the debt ceiling is still being negotiated. The Congressional Budget Office has projected that the Treasury Department will run out of ways to prevent a…
Read More
President Requests Budget Details from Speaker
He reaffirmed the U.S. commitment to avoiding debt default. President Joe Biden has called on House leadership to release a budget proposal for Americans to see for themselves.…
Read More
President Biden Sees Raising Debt Limit as Non-Negotiable
House speaker would like cuts to federal spending. National Economic Council Director Brian Deese recently relayed President Biden’s sentiments regarding lifting the nation’s debt ceiling. He stated, “It’s…
Read MorePresident and House Speaker to Meet Wednesday
The debt ceiling is expected to be at top of the agenda. House Speaker Kevin McCarthy of California said he and President Joe Biden will meet Wednesday to…
Read More
Bill Would Eliminate Federal Debt Ceiling
Congress looking for ways to avoid regular adjustments of debt ceiling. Representative Bill Foster of Illinois and 42 co-sponsors introduced the End the Threat of Default Act which…
Read More