The Debt

The Budget Outlook Isn’t Good — but It Has ‘Improved Substantially Since 2010’: Report

By Yuval Rosenberg

The national debt is now approaching $23 trillion, up nearly $9 trillion from the end of 2010, and the debt held by the public now stands at nearly $17 trillion, up about $7.5 trillion from since the...
2019 Deficit Was Just Under $1 Trillion, Highest in 7 Years: CBO

By Yuval Rosenberg

The federal budget deficit for fiscal year 2019 grew to $984 billion, or 4.7% of GDP, the highest since 2012, the Congressional Budget Office estimated on Monday. The total for 2019 is 26% higher...
McCarthy Says Debt Will Be ‘Taken Care of’ if GOP Wins the House

By Michael Rainey

Minority Leader Kevin McCarthy said Thursday that the national debt would be his top priority if Republicans succeed in retaking the House in 2020. “First thing we would do is make sure our debt is...
Mnuchin Says Treasury Is ‘Seriously Considering’ a 50-Year Bond

By Michael Rainey

Asked about President Trump’s recent suggestion that the U.S. should “refinance” its debt at lower interest rates over a longer time horizon, Treasury Secretary Steven Mnuchin said Thursday his...
Trump: ‘Boneheads’ at the Fed Should Drop Interest Rates to Zero, or Lower

By Michael Rainey

President Trump blasted the “boneheads” at the Federal Reserve Wednesday for failing to reduce interest rates to zero or below. “The Federal Reserve should get our interest rates down to ZERO, or...

Trump Gets a Fiscally Focused Challenger

By Michael Rainey

Mark Sanford announced Sunday that he is running for president, becoming the third Republican to challenge President Trump for the nomination in 2020. The former South Carolina congressman said he...
As Debt Costs Rise, Governments Turn to Health Care for Savings

By Michael Rainey

High levels of government debt spur governments to rein in health care costs, according to a new report from economists at Goldman Sachs. And efforts to reduce health care inflation may help explain...
Chart of the Day: Comparing Debt Costs

By The Fiscal Times Staff

The U.S. stands out from other developed countries when it comes to the cost of its government debt. Bloomberg’s Justin Fox says that the interest burden of government debt is both larger in the U.S...
Should the US Issue 100-Year Bonds?

By Michael Rainey

Treasury Secretary Steven Mnuchin said Wednesday that the U.S. is considering issuing ultra-long U.S. bonds – debt in 50- or 100-year durations. “If the conditions are right, then I would anticipate...
Is a Big Jump in Federal Spending Now Inevitable?

By Michael Rainey

A group of influential investors and policy wonks says that a major expansion of government spending appears all but inevitable in the next few years. Barry Ritholtz, a Bloomberg columnist who runs...

Why the US Should ‘Borrow Gobs of Cash’ Right Now

By Yuval Rosenberg

Investors worried about the health of the global economy continued to scramble to the safety of U.S. bonds on Thursday, driving the yield on 30-year U.S. Treasury bonds below 2% for the first time...
A $1 Trillion Deficit Is Bad. The Reality Is Much Worse.

By Chuck Chokel

President Trump’s signing of a two-year budget deal earlier this month may have averted the chances of another government shutdown before the 2020 election, but it certainly added to the exposure of...
2019 Budget Deficit Rises to $867 Billion, Up 27% from Last Year

By Yuval Rosenberg

The U.S. budget deficit rose to $866.8 billion through the first 10 months of the fiscal year, up 27% from the same period in 2018, the Treasury Department said Monday. The deficit for all of 2018...
Was the Budget Control Act a ‘Colossal Failure’?

By Yuval Rosenberg

The two-year budget deal passed by Congress and signed into law by President Trump earlier this month lifted spending caps for the next two years imposed under the 2011 Budget Control Act,...
Are US Interest Rates Headed Back to Zero — or Even Lower?

By Michael Rainey and Yuval Rosenberg

We live in unusual and unsettling economic times. Today’s evidence of that came via two mind-blowing market numbers, 1.6% and $15 trillion. The first represents the yield on 10-year U.S. Treasuries,...