U.S. Faces Record Debt Levels as Republicans Plan Tax Cuts
The new budget forecasts predicted that the United States will record a $1.9 trillion budget deficit this fiscal year and that annual deficits over the next decade will total $21.1 trillion. That will be piled on to a national debt that currently exceeds $36 trillion.
Anti-Trump columnist delivers withering assessment of 'failed' Biden presidency as he leaves office
George Will, an anti-Trump columnist for The Washington Post, wrote a scathing assessment of President Biden's actions as president as he prepares to leave office.
Republicans may try budget math that doesn’t count Trump tax cuts
Extending the tax law that’s set to expire would add $4.6 trillion to the national debt — so some GOP lawmakers want to change the rules.
CBO projects US debt to grow $23.9 trillion in 10 years, not including costs of extending tax cuts
The national debt is slated to rise by $23.9 trillion over the next decade, a sum that does not include trillions of dollars in additional tax cuts being championed by President-elect Donald Trump.
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Trump swearing-in will move inside Capitol Rotunda because of intense cold
President-elect Donald Trump will take the oath of office from inside the Capitol Rotunda Monday due to forecasts of intense cold weather.
Lawler, Latimer favor study of Social Security's future as fund faces depletion by 2033
With the clock is ticking on the Social Security Trust Fund, Reps. George Latimer and Mike Lawler say more time is needed to study the options.
Navy Expansion Plans Could Cost Over $1 Trillion
The Navy's 2025 plan would cost 46 percent more each year—when adjusted to take out inflation—than the average amount dedicated yearly over the past five years, the CBO said. The total shipbuilding costs would cost $40 billion annually over the next 30 years in today's money, coming in at 17 percent more than the Navy estimates.
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Navy shipbuilding plan would cost $1 trillion over the next 30 years
The Navy's plan for its future fleet would require $1 trillion and a drastic increase in productivity at the nation's shipyards.
Treasury will begin steps to avoid debt default as Trump takes office
As President-elect Donald Trump prepares to take office, the U.S. government’s fiscal health is bleak, with debt and deficits set to reach record levels.
U.S. Starts Maneuvers to Avoid Breaching Debt Limit, Putting Pressure on Congress
A Congressional Budget Office report shows debt closing in on a post-World War II high as a share of GDP.
Trump will try to extend his 2017 tax cuts this year. When — and how — that happens is up in the air.
Washington is set for a rollicking tax fight in the coming year, with observers of all stripes expecting a historic deal to extend Donald Trump's 2017 tax cuts at some point.
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Blinken bids farewell with pep talk to diplomats facing uncertain future under Trump
Secretary of State Antony Blinken bade farewell to the State Department on Friday, urging career staffers to carry on in their mission