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.

State data analyzed by the Illinois Policy Institute reveals the unrealistic and unsustainable nature of the state’s "Tier 1" pension.

Republicans' One Big Beautiful Bill Act reforms SNAP by requiring states with error rates above 6% to share costs starting in 2028, with 43 states currently exceeding this threshold.

Failing to raise the debt limit before the Treasury runs out of cash could trigger further credit downgrades and roil financial markets. In short, Republicans and Democrats want to avoid a U.S. government default because it undermines America’s economic credibility.

The Department of Labor has proposed 63 deregulatory actions, building on previous Trump administration measures, including scrapping 10 rules for every new one.

The NATO alliance agreed to a new defense spending target of 5% GDP by 2035, after a record number of members met the prior 2% defense spending goal last year.

The Department of Government Efficiency X account announced 312 recent contract cancellations resulting in a whopping $470 million in savings.

GOP lawmakers introduce the LEDGER Act to create 'America's Checkbook,' requiring tracking of federal spending after $4.7 trillion in uncoded Treasury disbursements

Jerome Powell returns to Capitol Hill where Republicans plan to challenge the Fed's $2.5 billion headquarters renovation featuring marble and rooftop gardens amid inflation concerns.

America faces potential "economic heart attack" as billionaire Ray Dalio warns about chronic overspending, $37 trillion debt and deficit concerns, including those tied to Trump's tax bill.

Former confidants Donald Trump and Elon Musk's relationship deteriorated after Musk's departure from the Department of Government Efficiency and criticism of Trump's tax bill.

The Department of Government Efficiency X account announced millions of dollars in savings tied to the cancellation of "111 wasteful contracts."

Job cuts surge 80% in first five months of 2025 with federal funding cuts and retail store closures from companies like JCPenney, Macy's and Joann driving the trend.

Office of Management and Budget director Russ Vought defended the Trump administration's economic package as 'fiscally responsible' despite concerns about adding to national debt.

Elon Musk's public feud with President Donald Trump over the GOP tax package's deficit impact put the federal funding that Tesla and SpaceX have received in the spotlight.

The intensifying feud between Elon Musk and President Donald Trump sent Tesla's stock plunging as investors worried about a tougher regulatory environment for the company.

Layoffs increased by nearly 50% in May compared with last year, as DOGE was cited as the leading cause of 284,044 job cuts in 2025 so far, representing about 40% of cuts.

Elon Musk criticized the Republican tax cut bill as a "disgusting abomination" due to its effect on federal budget deficits, and GOP senators consider revising the bill.

JPMorgan CEO Jamie Dimon highlighted the risks of rising U.S. debt and deficits, and he called for reforms to ensure economic growth and program sustainability.

Treasury Secretary Scott Bessent said the U.S. government will never default on its debt obligations as Congress faces a debt limit deadline in the wake of a credit downgrade.