Washington( CNN) Once again, lawmakers are in a fight over the debt limit.... Legislation signed into law by Trump added trillions to the national debt and just because the debt ceiling was previously raised doesn't mean those policies were" paid for." Furthermore, some of Trump's legislation continues to add to the US deficit.... But the need to increase the debt ceiling now is not primarily due to legislation passed under Trump....

Washington( CNN) President Joe Biden has been taking credit for reducing the federal budget deficit, the annual gap between the money the government takes in and the money the government spends.... I've reduced it$ 350 billion in my first year in office.... But some experts on fiscal policy say Biden is distorting reality when he claims that he is personally responsible for the deficit going down....

“ For every$ 1 we spend on lifting kids out of poverty cutting taxes for the middle class w/ the# ChildTaxCredit, we save$ 8.” — Rep.... However, when we ran the study by other fiscal experts, they said its assumptions were so optimistic as to be suspect. The Facts The Democrats’$ 3.5 trillion spending proposal would among other things beef up the Child Tax Credit( CTC).... “ The present discounted value of current and future benefits for society equals roughly$ 794 billion, or approximately e

CNN — The federal budget deficit is expected to balloon to about$ 2 trillion for fiscal year 2023, roughly double what it was in the previous fiscal year, according to a government watchdog group.... The surge stems largely from a sharp decline in tax revenues, coupled with an increase in mandatory spending on Social Security, Medicare and interest payments, as well as in other areas.... Ad Feedback The US Treasury Department lists the fiscal year 2022 deficit as$ 1.4 trillion because it takes

” Ramaswamy separately responded on X with a slogan he often used during his presidential campaign to call for the elimination of federal agencies, writing: “ SHUT IT DOWN.” On the campaign trail, Trump pointed to his proposed government efficiency commission as a way to reduce government spending.... “ As the first order of business, this commission will develop an action plan to totally eliminate fraud and improper payments within six months, ” he said in September.... “ A smaller Government

It is zero price tag on the debt.... 24 “ My Build Back Better Agenda costs zero dollars.” — Biden, in a tweet, Sept.... But the president and his aides have argued that this is misguided because Democrats are proposing to fund this spending with tax hikes on the wealthy, tougher tax enforcement and other revenue raisers....

Facing stubbornly high gas prices that average about$ 5 a gallon nationwide, President Joe Biden on Wednesday urged Congress to suspend federal gasoline and diesel taxes for three months.... They’ve caused confidence in the economy to slump, contributed to record inflation and adds to the formidable challenges that Democrats face in keeping control of the House and the Senate in November.... Biden’s past efforts to cut gas prices — including release of oil from the U.S. strategic reserve and g

President Joe Biden and congressional Democrats now face the daunting task of paring their$ 3.5 trillion budget reconciliation plan, which contains all these measures and more, to appease the moderate wing of their party.... Just how deep the cuts will have to be isn't known.... RELATED: Biden tells House progressives spending package needs to be between$ 1.9 trillion and$ 2.2 trillion Read More But that's still too low for House Progressive Caucus Chair Pramila Jayapal of Washington state, wh

President Joe Biden entered the White House promising to stop the twin health and economic crises caused by COVID-19, but$ 1.9 trillion and countless initiatives later he’s confronting the limits of what Washington can achieve when some state and local governments are unwilling or unable to step up.... But in some cases, it’s also led to frustration as aid for renters, testing and vaccines goes unused despite mass outreach campaigns.... Republican critics say the unspent money shows that Biden

But they argue the need to stabilize the economy far outweighs concerns about deficits and debt.... " in different times we'll fix the deficit.... But they also say that the Trump administration and Congress missed an obvious chance to lower the deficit under ideal conditions: the last several years when unemployment was low and the economy was booming....