Congressional forecasters say the debt ceiling deal struck by President Biden and House Speaker Kevin McCarthy over the weekend would reduce deficits by about $1.5 trillion over the next decade.
William Hoagland, who for years helped shape GOP budget policy, says the public just doesn't see rising deficits as a major issue at a time when the economy is doing well.
Art Laffer received the Presidential Medal of Freedom Wednesday. For decades, Laffer has promoted the idea that tax cuts pay for themselves, against all evidence to the contrary.
Republican leaders are working to update their long-promised tax overhaul legislation to satisfy enough senators to allow a vote on the legislation as early as this week.
Trump tweeted on Tuesday that the U.S. has a "MASSIVE" trade deficit with Germany that is "very bad for the U.S." But this isn't at all the right way to think about trade deficits.