Budget
  • FILE PHOTO: A combine drives over stalks of soft red winter wheat during the harvest on a farm in Dixon, Illinois

    Is Trump's $28 Billion Bailout Paying Farmers Too Much?

    By Michael Rainey

    The Trump administration is spending $28 billion to bail out farmers hurt by the president’s trade war with China – a huge sum that some experts say overestimates the economic losses inflicted by the...

  • New Trump Food Stamp Rule Will Cut 700,000 from Program

    By Michael Rainey

    The White House said Wednesday that it has finalized a rule that will tighten work requirements for participants in the Supplemental Nutrition Assistance Program, or SNAP. The new rule could result...

  • The Ohio-class ballistic missile submarine USS Tennessee returns to Naval Submarine Base Kings Bay, Georgia in this handout photo

    Navy Awards Largest Shipbuilding Contract Ever

    By Michael Rainey

    The U.S. Navy awarded a contract Monday worth more than $22 billion to build nine new attack submarines. The agreement with General Dynamics Electric Boat includes an option for a 10 th sub, which...

  • Dome of the U.S. Capitol Building

    On Congress’s To-Do List: Prevent a Shutdown in 18 Days

    Congressional appropriators back from their Thanksgiving recess have just three weeks to hammer out details on dozens of policy differences over federal funding for fiscal year 2020, which started on...

  • A homeless woman sits on a bench few blocks away from the White House in downtown Washington

    Chart of the Day: Record Low Poverty Rate

    By Michael Rainey

    The extensive array of government assistance programs — including Social Security, unemployment insurance, veterans’ benefits, nutritional aid, rental assistance and the Earned Income Tax Credit —...

  • President Donald Trump and House Ways and Means Committee Chairman Kevin Brady smile at each other after the U.S. Congress passed sweeping tax overhaul legislation, on the South Lawn of the White House in Washington

    Two Takes on Republican Debt Hypocrisy

    The federal deficit for fiscal 2019 was nearly $1 trillion, and the national debt is going to hit $23 trillion within a matter of days. President Trump once said he would eliminate the national debt...

  • A Marine Corps pilot prepares for a vertical landing of Lockheed Martin F-35B stealth fighter aboard the USS Wasp amphibious assault carrier off Japan's southernmost island of Okinawa

    Biggest Contract Yet for the F-35

    By The Fiscal Times Staff

    The Pentagon is close to a final agreement with Lockheed Martin for the largest batch of F-35 stealth jets, Bloomberg’s Julie Johnsson and Anthony Capaccio reported Monday. The contract for 478 jets...

  • An F/A-18F Super Hornet jet flies over the USS Gerald R. Ford as the U.S. Navy aircraft carrier tests its new launch and flight arrest systems

    US Navy Can’t Afford a 355-Ship Fleet: Admiral

    By Michael Rainey

    In 2016, the U.S. Navy set a goal of growing its fleet to 355 ships, but a high-ranking admiral said Friday that there isn’t enough money in the budget to reach that target. “Will we get to 355-ships...

  • U.S. President Trump participates in the Missile Defense Review announcement at the Pentagon in Arlington, Virginia

    Does Impeachment Mean Nothing Else Gets Done in Washington This Year?

    By Michael Rainey

    Some lawmakers are expressing concerns that the unfolding impeachment process is putting a halt to the legislative agenda for the foreseeable future, The Hill’s Jordain Carney reports. “The House...

  • A sign marks the U.S Treasury Department in Washington

    Budget Deficit Rose 26% in 2019, to Near $1 Trillion: Treasury

    By Michael Rainey

    The federal government’s budget deficit grew to $984 billion in fiscal year 2019, the U.S. Treasury announced Friday. The final tally for 2019 is $205 billion larger than in 2018, a 26% increase. As...

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