federal deficit

The federal budget deficit is expected to grow to $960 billion this year, the Congressional Budget Office said.

The Federal Budget Deficit Is Getting Bigger As Spending Grows

5:09pm August 21, 2019

by Scott Horsley

The deficit is expected to swell to $960 billion this year and average $1.2 trillion in each of the next 10 years, according to congressional budget forecasters. They also expect the economy to slow.

This Economic Theory Could Be Used To Pay For The Green New Deal

9:48am July 17, 2019

by Scott Horsley

Liberal Democrats have embraced an obscure brand of economics — "modern monetary theory" — to make the case for deficit-financed government programs like the Green New Deal for clean energy and jobs.

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President Trump, pictured delivering his first prime-time address from the Oval Office on Jan. 8, hits the two-year mark of his presidency on Sunday.

Politics & Government

Progress Report: President Trump's Campaign Promises, 2 Years Later

7:07am January 20, 2019

by Scott Horsley

At the midpoint of his four-year term, President Trump has delivered on some campaign promises and ignored others, while many are still works in progress.

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People gather to protest Brett Kavanaugh on the day that he and Christine Blasey Ford testified on Capitol Hill in September.

Politics & Government

The Top 10 Most Important Political Stories Of 2018, As Chosen By Readers

11:40am December 26, 2018

by Domenico Montanaro

From the Brett Kavanaugh confirmation battle to Democrats winning back control of the House, these were the biggest political stories of the year that you picked.

When the federal government spends more than it collects in taxes, which it does most years, it has to borrow money to make up the difference. That gap is the federal deficit, which is expected to top $1 trillion in 2019.

Politics & Government

Know Your Washington Buzzwords

7:00am December 01, 2018

by Scott Horsley

Deficit? Debt? Shutdown? Debt ceiling? NPR offers a guide to some of the political and economic terms you're likely to hear.

Treasury Building in Washington, D.C. The trend toward rising red ink was widely anticipated, given the GOP tax cuts and other government policies, including the president's demand for beefed-up military spending.

Politics & Government

Federal Deficit Jumps 17 Percent As Tax Cuts Eat Into Government Revenue

4:02pm October 16, 2018

by Scott Horsley

The federal deficit ballooned to $779 billion in the fiscal year just ended — a remarkable tide of red ink for a country not mired in recession or war.

The government is acting like a spendthrift family, piling up credit card bills even though times are good.

Despite Strong Economy, Federal Deficit Soars

4:05pm August 03, 2018

by Scott Horsley

Even with a healthy job market and rapid economic growth, the federal government is piling up debt. The government's deficit is expected to top $1 trillion next year.

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Traders work on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange on July 26, 2018 in New York.

Politics & Government

Trump Administration Eyes Capital Gains Tax Cut

6:48pm July 31, 2018

by Scott Horsley

The Trump administration is weighing a cut in the capital gains tax. It would save wealthy Americans up to $20 billion a year, but add to the federal government's red ink.

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A chart shows the U.S. federal government's spending and revenues, from 1965 projected forward to 2025.

2015 Will Continue Streak Of Shrinking U.S. Budget Deficit

8:22pm January 26, 2015

by Bill Chappell

The federal budget deficit will fall in 2015, the sixth consecutive year of decreases relative to the overall economy, according to new figures by the Congressional Budget Office.