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The Latest Breaking News from Maya MacGuineas

$1.8 trillion deficit revealed during 'pointless and wasteful government shutdown,' budget watchdog says

The U.S. is on track to borrow nearly $2 trillion per year for the next decade, the CRBF notes. "How can anyone think this is sustainable?"

Fortune

The new Trump-led tax bill promises an American ‘golden age’ – that conveniently ends with his presidency

Tax relief contained within One Big Beautiful Bill Act would expire when president leaves office – what happens then?

The Guardian - US

US budget deficit grows to $1.3 trillion, the second highest six-month level on record

The U.S. budget deficit has grown to more than $1.3 trillion in the first half of the fiscal year

The Independent UK

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Spartz links vote on Johnson to commitment on spending - Roll Call

Rep. Victoria Spartz, R-Ind., has linked her vote for House speaker to a commitment to properly oversee federal spending.

Roll Call

Senate Tees Up $200 Billion Social Security Giveaway to Public Sector Workers

The Social Security Fairness Act will boost payouts to public sector workers who receive pensions and did not pay taxes to support Social Security.

Reason

Interest On US National Debt Tops 'Truly Astounding' $1 Trillion For First Time

The record outlay during fiscal 2024 represents an annual increase of 29 percent, with the Treasury Department saying higher rates were 'largely' to blame.

International Business Times

The clock is ticking to fix Social Security as retirees face automatic cut in 9 years

Social Security's finances have improved slightly in the last year. But the popular retirement program still faces big challenges including the threat of automatic benefit cuts in less than a decade.

WEKU

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House Republicans aim to pay for Israel aid with cuts to IRS funds

Democrats want Israel and Ukraine funding to be linked together. House Republicans are proposing a standalone bill with roughly $14 billion for Israel offset with cuts to the Internal Revenue Service.

WEKU

The federal deficit nearly tripled, raising concern about the country's finances

The federal government's budget gap widened significantly in the first nine months of the fiscal year, as tax receipts slumped and spending increased.

WEKU

What you need to know about the debt ceiling as the deadline looms

What is the debt ceiling? What could happen if it's not raised? Here are answers to questions you may be asking about the debt limit and the fight over it.

WEKU

The debt limit fight is a 'game of chicken' that only has one loser: The U.S. economy

There could be serious economic damage in the U.S. and elsewhere if the debt ceiling fight nears the default deadline.

Fortune

Congress will miss its budget deadline. That’s not unusual

WASHINGTON — Unlike the annual tax-filing deadline at roughly the same time, Congress’ April 15 target date for agreeing on a joint budget resolution is set to come and go with no practical effect on the everyday lives of Americans.

Tribune News Service

Congress will miss its budget deadline. That's not unusual. - Roll Call

Congress is set to blow past its April 15 target date for a joint budget resolution, which has been the rule rather than the exception.

Roll Call

Why we have a debt ceiling, and why this trip to the brink may be different

We have been here before. But this time the House's new Republican majority is largely driven by a faction that says it will hold the debt limit vote as a hostage to win policy changes.

WEKU

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WEKU

Here's why a high-stakes debt ceiling fight looms on Capitol Hill

House Republicans want to leverage must-pass legislation to raise the debt limit to extract federal spending cuts, but President Biden and congressional Democrats aren't interested in negotiating.

Tribune News Service

Social Security benefits see highest jump in 40 years. Here’s what to expect

Social Security beneficiaries are set to get the largest boost to their benefits in four decades.

The Independent UK

US starts fiscal year with record $31 trillion in debt

The nation’s gross national debt has surpassed $31 trillion, according to a U.S. Treasury report released Tuesday

Tribune News Service

Taxes won’t immediately rise from Biden student loan plan as GOP argues, experts say

WASHINGTON — Texas Republican lawmakers have been quick to attack President Joe Biden’s student loan forgiveness plan as a heavy burden for taxpayers. However, the arguments used don’t give the full picture of the situation faced by millions of families now sorting out how the forgiveness program impacts them.

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Reason

Schumer, Manchin Strike Deal To Raise Taxes, Cut the Deficit, Spend Billions on Climate Change

The proposal reportedly hikes taxes by over $730 billion, with $300 billion of that money to be used for reducing the federal budget deficit.

Reason

Joe Biden's Phony Fiscal Responsibility

Biden gloats over a historically astronomical budget deficit as if he's accomplished something significant. He hasn't.

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