The Debt

Mnuchin Spins a False Claim About Tax Cuts and the Deficit

By Yuval Rosenberg

The Congressional Budget Office projected last week that the federal government’s fiscal 2018 deficit would total $782 billion. The final numbers will be released by the Treasury Department, but...
A Fiscal Hawk’s New Plan to ‘Avert a Debt Crisis’

By Yuval Rosenberg

The national debt rose by more than $1 trillion in fiscal 2018, and yet lawmakers have evinced little concern about it ahead of this year’s elections, instead pushing tax cuts and spending increases...
How GOP Rhetoric on Entitlements Has Changed

By The Fiscal Times Staff

The Washington Post’s David Weigel describes how Republicans have changed their tune on Medicare and, for this year at least, largely abandoned the idea of entitlement reform: “[O]ver eight years,...
The Post-Election Outlook: ‘Debt, Debt and More Debt’

By Yuval Rosenberg

The 2018 elections are looking like a lose-lose proposition for the U.S. bond market, according to Bloomberg’s Liz McCormick and Alex Harris : “If Democrats take the House, it raises the odds that...
Deficit Jumped to $782 Billion in 2018 – and It’s Only Going to Get Bigger

By Michael Rainey

You might have missed this with everything else going on in the world, but the Congressional Budget Office said Friday that the deficit for fiscal year 2018 rose to $782 billion, a big jump from the...

Why Rising Interest Rates Really Matter

By Michael Rainey

The job market is “sizzling,” says Moody's Analytics chief economist Mark Zandi, thanks in part to the deficit-financed tax cuts and government spending increases that went into effect this year. The...
Larry Kudlow Wants to Put a ‘Big Dent’ in Government Spending

By Yuval Rosenberg

Larry Kudlow, the director of President Trump’s National Economic Council, is once again talking up the economy and talking down the threat posed by rising debt and deficits. And once again, he’s...
Congress Added $2.4 Trillion to the National Debt in 2018: Report

By The Fiscal Times Staff

Fiscal 2018 ends on Monday, and the Committee for a Responsible Federal Budget calculates that lawmakers added $2.423 trillion to the national debt through 2027 through legislation enacted over the...
The Deficit Is Heading to $1 Trillion. How Worried Should We Be?

By Michael Rainey

Should we be worried about the rising federal deficit? If not, when should we start worrying – when it hits $1 trillion a year? $2 trillion? Never? That’s the topic of debate in a Bloomberg piece...
‘Beware Trillion-Dollar Deficits,’ Barron’s Says

By Yuval Rosenberg

In the latest Barron’s cover story, Jack Hough warns of the long-term risks of rising U.S. public debt. While noting that there’s little chance of hitting debt-related turbulence anytime soon and...

Rates on US Bonds Now Higher Than for Other Developed Countries

By The Fiscal Times Staff

Rising interest rates in the U.S. have pushed the yield on 10-year Treasury bonds higher than the yields for similar government bonds from seven major developed countries for the first times since...
3 Big Risks the US Faces as Debt Levels Soar

By Yuval Rosenberg and Michael Rainey

In a new note to clients, Goldman Sachs economists say that U.S. fiscal outlook “is not good.” If you’re reading this you likely already knew that the picture isn’t pretty — but the new Goldman Sachs...
How Rising Deficits Could Cause Interest Rates to Jump

By Yuval Rosenberg

In a note to clients on Saturday, Goldman Sachs economists say that the larger deficits resulting from Congress’ recent tax cuts and spending increases could drive interest rates higher in at least a...
Japan Hasn’t Had a Debt Crisis. Why Should the U.S. Worry About One?

By Yuval Rosenberg

In a research note published Friday, Goldman Sachs economists asked a key question about the rising U.S. deficit — one that deficit doves have raised repeatedly: Why should we worry about deficits if...
Demand at Treasury Auction Is ‘Lame’

By Michael Rainey

The U.S. Treasury’s latest auction saw relatively weak demand Tuesday, with prices edging lower and interest rates moving higher. “Overall bidding at the $31 billion U.S. Treasury three-year note...