Government Spending

The U.S. national debt is climbing at a rapid pace, on track to double over the next three decades amid a rush of spending by President Biden and Congress.

As President Donald Trump begins his second term in the White House, the country faces several key fiscal policy deadlines this year, including the debt limit and expiring tax cuts.

The nonpartisan Congressional Budget Office released its latest 10-year budget outlook, which projected the U.S. is on track to break a notable debt record in just four years.

President-elect Trump and Republican majorities in Congress are planning to pursue an ambitious tax cut plan, but some GOP lawmakers warn rising bond yields could dampen those efforts.

During a livestremed talk with Stagwell Inc. CEO Mark Penn, tech billionaire Elon Musk admits that the newly formed Department of Government Efficiency may not reach its goal.

Fitch Ratings released a report warning that Congress could struggle to raise or suspend the debt limit while also dealing with annual spending bills and an anticipated tax reform bill.

The IRS is sending about 1 million eligible American taxpayers a payment this month for the pandemic-era Recovery Rebate Credit that they didn't claim on their 2021 tax returns.

NATO released its annual defense spending report this year that showed a record 23 countries in the alliance met NATO's commitment to spend at least 2% of GDP on defense.

FOX Business host Larry Kudlow offers his analysis to the GOP on "Kudlow" as lawmakers continue to battle over a spending bill to avoid a government shutdown.

Kevin O'Leary believes Congress' "political theater" will end with a "punt" so lawmakers can "go home, open some presents, come back and fight again" in the New Year.

The TSA warned that an extended partial government shutdown could result in longer wait times for holiday season travelers even as most TSA workers will remain on the job.

Criticizing the continuing resolution's "Christmas tree ornaments," Sen. Tommy Tuberville called the short-term funding extension "absolutely ridiculous" and a "disaster."

President-elect Trump said that his administration will challenge a recently announced remote work deal between a federal employees' union and the Social Security Administration.

The nonpartisan Congressional Budget Office released a report analyzing 76 policy options for reducing the federal budget deficit, including spending cuts, entitlement and tax reforms.

The Department of Government Efficiency (DOGE) will have a difficult time cutting $2 trillion from the federal budget, but that amount of saving can be achieved over time, experts say.

Penn Wharton Budget Model analysis outlines policies the Trump administration could pursue to reduce the long-term growth of the national debt while spurring additional economic growth.

Former White House chief of staff Mick Mulvaney said he hopes Elon Musk and DOGE succeed where he failed and manage to trim government waste from the budget.

The incoming Trump administration's Department of Government Efficiency compares the cost of illegal immigration on U.S. taxpayers to the price tags of other projects.

President-elect Trump named economist Kevin Hassett as his choice to serve as the director of the National Economic Council, which helps develop the White House's economic policies.

Iowa Republican Sen. Joni Ernst sent a letter to Elon Musk and Vivek Ramaswamy outlining areas where the Department of Government Efficiency (DOGE) can cut costs.