Default Bipartisanship

Tara D.Sonenshine writes at The Hill: In a recent letter to congressional leaders, Treasury Secretary Janet Yellen warned that without raising the debt ceiling, “the most likely outcome is that cash and extraordinary measures will be exhausted during the month of...

Deficit and Debt

From the Congressional Budget Office: CBO projects a federal budget deficit of $3.0 trillion in 2021 as the economic disruption caused by the 2020–2021 coronavirus pandemic and the legislation enacted in response continue to boost the deficit (which was large by...

Debt and Deficit, Then and Now

Many posts have discussed the deficit and the debt.  Policymakers and the general public have tended to ignore these problems in recent years, In 1994, President Clinton named Bob Kerrey and John Danforth to lead a bipartisan commission on entitlements and tax...

Deficits and Debt After the Rescue

From the Committee for a Responsible Federal Budget:   Now that the American Rescue Plan Act has been signed into law, the federal deficit is on course to exceed $3 trillion this year, with debt reaching a new record as a share of the economy.   In February,...