The Deficit- Or is it an Expenditure Issue?
Newsweek- https://www.newsweek.com/republicans-rebuke-massive-trump-backed-budget-deal-measure-passes-1452139
- This article details that 23 Republicans were not on the same side as Trump when it came to the new budget deal.
Yahoo Finance- https://finance.yahoo.com/news/trump-debt-binge-puts-treasury-210000543.html
- Due to increased deficits, the Treasury has to sell bonds of debt.
The Wall Street Journal- https://www.wsj.com/articles/treasury-to-borrow-over-1-trillion-in-2019-for-second-year-in-a-row-11564428624
- This article shares how the US Treasury plans on selling over 1 trillion dollars of debt, which is not a good sign for the US economy.
- In this opinion piece, Mark Sanford mentions the silence about the debt and deficits.
- This report details a part of the interview of White House Chief of Staff, Mick Mulvaney where the Fox anchor questions Mulvaney over the deficits that are drastically increasing, even though they decreased during Obama’s tenure.
Politico- https://www.politico.com/story/2019/07/25/how-trump-shut-down-the-gop-deficit-hawks-1433475
- This article describes why they think Trump decided to agree to the new federal budget even though it would cause increased deficits.
- This articles claims that the GOP is indifferent to the deficits, and this can be shown by the new federal budget.
Mother Jones- https://www.motherjones.com/kevin-drum/2019/07/the-budge-deficit-is-all-about-taxes-not-spending/
- The author of this opinion piece asserts that the causes of the deficit are taxes and do not pertain to government spending.
- This article details Conservatives’ anger about the spending budget even though President Trump signed off on it.
Politico- https://www.politico.com/story/2019/07/22/deficit-don-budget-red-ink-trump-1426696
- In this analysis piece, the author describes that during Trump’s presidency the deficits have significantly increased.
The New York Times- https://www.nytimes.com/2019/07/22/us/politics/budget-deal.html
- This article describes how the new federal spending deal will increase the federal spending by $320 billions.
Los Angeles Times- https://www.latimes.com/politics/story/2019-07-22/house-democrats-and-trump-administration-close-to-deal-on-debt-ceiling
- This article reports how Congress and the White House have agreed to a higher debt ceiling and greater federal spending, which is not good news for the debt crisis.
The Wall Street Journal- https://www.wsj.com/articles/u-s-budget-gap-widened-23-in-first-nine-months-of-fiscal-year-11562868054
- This article reports that the tax revenues have increased but not enough to offset higher federal spending.
- This report states that the federal government spent a record amount in June 2019.
- This article details how Trump and Republican Congressmen and Congresswomen have failed to reach an agreement on a reasonable spending budget. Without an eventual compromise, another government shutdown could happen, there could be large federal spending cuts, and the economy could tank.
FITS News- https://www.fitsnews.com/2019/06/13/gop-failure-to-rein-in-red-ink-has-consequences/
- This article describes how Trump and the GOP are failing to take care of the debt and failing to realize that the debt has consequences. This article also acknowledges that spending has gone up.
The Hill- https://thehill.com/opinion/finance/438830-tax-day-trauma-paying-for-our-massive-national-debt
- This opinion piece describes how with tax day, the stress of the national debt has been reintroduced. In addition, this article claims that the interest for repaying the national debt will eventually cost more than Medicaid.
- This article recounts how federal spending has reached a 10-year high, while federal taxes have reached a 5-year low, which is the worst possible situation for the deficits.
- This opinion piece describes how neither side of the political spectrum is addressing the national debt. For example, the Republicans are calling for tax cuts, while the Democrats are calling for increased governmental spending. Both of these do nothing to stop the increase in debt. Instead, they increase the debt by a larger factor.
Conservative Review- https://www.conservativereview.com/news/bipartisan-spending-binge-now-worse-bush-obama/
- The author of this article claims that the sole cause of the increasing debt is the high government spending. Thus, the author takes a conservative stand point towards the debt.
- This article reports that the debt has gone up to 22 trillion dollars due to President Trump’s tax cuts and increased congressional spending.
CNN Politics- https://www.cnn.com/2019/01/13/politics/debt-spending-mmt/index.html
- This report shows the point of view of some politicians who believe that the national debt does not matter, and therefore believe that the federal government should spend more money.
- This article describes how the annual interest that tax payers pay on the debt will be higher than the $700 billion spent on military defense.
Politico- https://www.politico.com/story/2018/12/13/cbos-big-ideas-for-shrinking-the-deficit-1031646
- This article lists the different options that the Congressional Budget Office haw come up with in order to decrease the deficits, including creating new taxes and decreasing Medicare spending.
- This article describes how the government collected a record amount of money in taxes in the first two months of the 2019 fiscal year; however, the deficits were still high due to extreme government spending.
- In this article, the author describes how President Trump suggests the national debt be taken care of; he suggests that there is a cut in deficit spending, which would include reductions on military spending.
- In this opinion piece, the author attributes the growing national debt to government spending and its programs like Medicare, Medicaid, and Social Security.
- This article describes how the government was able to collect a record amount of money in taxes, but there was still a massive deficit due to government spending.
- This article explains how Congress recently passed a bill to cut taxes and a bill showing how much money to spend.
- This article deeply criticizes Republicans because the author believes that Republicans have acted carelessly in terms of handling the deficits and have deemed the deficits as unimportant.
CNN Business- https://www.cnn.com/2018/10/15/economy/us-budget-deficit/index.html
- This article shows how governmental spending has gone up by a significant amount percent this year.
Los Angeles Times- http://articles.latimes.com/1995-03-03/news/mn-38285_1_balanced-budget-amendment
- This page explains how in 1995 the Democrats blocked a constitutional amendment pertaining to a balanced budget that the Republicans wanted.
The Hill- https://thehill.com/policy/finance/411215-disasters-become-big-chunk-of-us-deficit
- This report shows how government spending has caused an increase in the deficit due to natural disasters such as Hurricane Michael, but they are inevitable disasters.
- This article acknowledges that there was a record value of money collected from income tax, but the deficits are still high; this suggests that the government still spends too much money.
The New York Times- https://www.nytimes.com/2018/09/25/business/economy/us-government-debt-interest.html
- This article shows how dire the debt crisis is because Congress will eventually spend more on debt interest than military, Medicare, and other governmental programs.
The Hill- http://thehill.com/opinion/finance/401897-fiscal-recklessness-puts-the-next-crisis-on-our-doorstep
- This article shows the irresponsibility that the US has with its money.
Congressional Budget Office- https://www.cbo.gov/system/files?file=2018-08/54339-MBR.pd
- This page shows the monthly budget review of how the budget was supposed to be spent in July.
The Western Journal- https://www.westernjournal.com/washington-spending-restraint-is-key-to-tax-reforms-success/
-This article declares that the key for success in Trump's tax reform is a reduced spending by Congress.
The Washington Post- https://www.washingtonpost.com/opinions/the-white-house-is-living-in-an-alternate-economic-universe/2018/06/30/efc1639c-7bca-11e8-80be-6d32e182a3bc_story.html?utm_term=.9c920d67460c
-This article shows how the White House was living in a fantasy when they said that deficits would come down because of the tax cuts.
Committee for a Responsible Federal Budget- http://www.crfb.org/press-releases/committee-responsible-federal-budget-reacts-house-budget-resolution
-This article reacts to the House's Budget Resolution.
Committee for a Responsible Federal Budget- http://www.crfb.org/papers/analysis-2018-medicare-trustees-report
-This report analyzes the report that was released about Medicare in 2018.
Committee for a Responsible Federal Budget- http://www.crfb.org/papers/analysis-2018-social-security-trustees-report
-This report analyzes the report that was released about Social Security in 2018.
GoUpstate.com- http://www.goupstate.com/opinion/20180509/mcardle-rich-cant-fund-everything
-This article describes the author’s belief that the idea that rich people can fund many of the social programs is unrealistic.
The Post and Courier- https://www.postandcourier.com/opinion/commentary/on-tax-day-it-s-the-payers-vs-the-takers/article_da5e65de-41a7-11e8-8938-8f8dddef351d.html
- This article's author describes how not everyone pays on tax day, and some of those people who do not pay get social benefits from the government since they are poor.
Breitbart - https://www.breitbart.com/clips/2024/06/21/yellen-we-have-normal-national-debt-interest-burden/
-This article shows an interview of the Treasury Secretary of the USA, Janet Yellen, and where she sees President Biden’s deficit act, “Tax Cut[s] and Job[s],” going in the future and how it can affect both families of lower income status as well as higher income status.