federal budget

Any Budget That Cuts Fed Ed Is Good, But…

The Trump Administration’s proposed U.S. Department of Education budget is due some props, but there is also a downside.

Retired and Raking It In

President Trump’s budget yesterday provides the latest evidence of out-of-control entitlement spending.

Trump Budget 2020

The Trump administration has released its federal budget for 2020. The document lays out taxing and spending proposals and provides projections through 2029.

Federal Budget Outlook and Trump Tax Cuts

President Trump releases his budget for 2020 today. The budget includes major cuts to domestic programs to deal with rising deficits, which is a good approach because out-of-control spending is the core problem with federal finances.

Who Would Want to Be the Next President?

The next president will come into office in early 2021, and the nation will be facing the most dangerous budget situation in peacetime history.

Omnibus Outrage

Congress has passed a giant omnibus spending bill with large increases for every federal budget area. If Trump goes along with the GOP leadership and hikes spending, it would cut his cabinet secretaries off at the knees.

Cutting Subsidies

Ever since President Trump and budget director Mick Mulvaney released a proposed federal budget that includes cuts in some programs, the Washington Post has been full of articles and letters about current and former officials and program beneficiaries who don’t want their budgets cut.

A Contradiction in Keynesian Fiscal Policy

There’s an internal contradiction in the way that Keynesian-oriented economists and policymakers address the federal budget situation. I’ve noticed it over and over. A passage in a Washington Post op-ed today by Mohamed El-Erian of Pimco captures it perfectly:

Obama’s Budget: This Isn’t Built to Last

In his recent State of the Union address, President Obama said that he wanted an American economy that is “built to last.” Today’s release of his fiscal 2013 budget proposal shows that the president still thinks he can build economic prosperity with more spending, taxes, and debt. Those are the building materials for an economic time-bomb that will explode on future generations.

President Obama's Spending

The new federal budget includes a range of accounting maneuvers to cast the administration’s 10-year projections in the best possible light. Senate Republicans point out some of President Obama’s funky accounting here. But note that the George W. Bush administration also used tricks to make deficit forecasts look more optimistic.

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