In the latest Fiscal Fridays interview, Republican front-runner Donald Trump said that as president he would cut taxes on businesses and the middle class, maintain current Social Security and Medicare benefits, and yet still balance the federal budget in short…
I. Introduction Federal borrowing is once again near the statutory debt limit. At the end of last year, Secretary of the Treasury Timothy Geithner notified Congress that the $16.394 trillion limit had been reached and that his department would begin…
I. What’s a structural deficit? One possible response to the recent spike in federal budget deficits -- from $161 billion in 2007 to more than $1 trillion in each of the last three years is: Don’t worry. It’s all caused…
The tax proposals in President Obama’s latest deficit-reduction plan have led to partisan charges and counter-charges of “class warfare.” Journalist have focused heavily on his proposed “Buffett Rule,” which Obama says would ensure that people like Omaha billionaire Warren Buffett…