Last Friday, the U.S. national debt reached $18 trillion. Breaking It Down takes a closer look at the history of our national debt.
The Congressional Budget Office (CBO) today released a report warning that the federal deficit’s short-term shrinkage doesn’t mean we’re in the clear for avoiding long-term fiscal problems.
Rep. Jose Serrano (D-NY) said the IRS needs more funding, yet acting IRS Commissioner Danny Werfel said the solution is “not more money.”
Summer is the season for big budget blockbuster movies. Accordingly, Bankrupting America will review some of the latest and greatest budget busters in our new series, Debtflix as anticipation builds to the event of the summer: the debt ceiling. Between 2010 and 2012, the IRS spent $50 million on 220 conferences and a number of cheesy movies. What better way to kick off the season with an IRS marathon featuring the “Cupid Shuffle”?
The federal government is likely to reach its statutory debt limit some time in January 2013. Here are the five things you need to know about the U.S. national debt.
The numbers say it all: Washington has spent its way into a fiscal crisis. This unsustainable habit will have consquenceson future generations unless Congress can reach across the aisle, work together, and enact lasting change.
Today we release the results of our most recent poll that makes it clear Americans are hurting. And while there may be other factors at play, our poll finds that Americans see Washington’s irresponsible policies as playing a large part in it.
A roundup of this morning’s must-read budget and economic stories.
On February 13, the President Obama submitted his proposed budget for the federal government’s upcoming fiscal year (FY2013), which runs October 1, 2013 through September 30, 2014. After cutting out the hype, rhetoric, and commentary, what is left? Here are the facts