U.S. budget deficit surges to $134.5 billion in October
The federal government, which ended the 2019 budget year with its largest deficit in seven years, began the new budget year with a deficit in October that was 33.8% bigger than a year ago as spending hit a record.
Hiking minimum wage to $15 would boost millions, government report says
The nonpartisan Congressional Budget Office also said Monday some 1.3 million workers could lose their jobs with the higher wage.
Column: A financial reality check on the push for health care reform
Congressional Budget Office reports on single-payer health care, drug pricing and broader federal subsidies provide key insights into how much health care reform proposals will cost.
Shutdown projected to cost U.S. economy $3 billion, government report says
The report says the five-week shutdown has slowed growth in the near term, but that most of the lost growth "will eventually be recovered."…
The Trump administration had promised the cuts would pay for themselves.
Financing for the program expired last fall. Congress has temporarily extended its funding, but growing numbers of states have moved closer to exhausting their money.
The costs will accumulate over the next 30 years as existing weapons now considered outdated are replaced, according to the budget office, which projected the expenses will crowd out conventional weapons programs unless the Pentagon's budget is increased substantially.
The nonpartisan Congressional Budget Office also estimated that cutting off the payments would add $194 billion to federal deficits over a decade.
The latest legislation in the Senate offers a greater reduction in the deficit by preserving certain taxes Republicans had killed in the older version. They found more savings by reducing and ending certain federal matching funds and capping per-capita-based payments…
Additional Support Provided By:
