Politics
G.O.P. Plans to Cut Medicaid Would Save Billions but Leave More Uninsured, Budget Office Says
As Republicans in Congress wrestle with options for cutting Medicaid costs, the Congressional Budget Office has estimated that the leading…
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Federal Budget (US)
Politics
Johnson Rules Out an Aggressive Plan to Cut Medicaid as G.O.P. Moderates Waver
Speaker Mike Johnson has dropped one of the most aggressive options the G.O.P. was considering to cut Medicaid costs to help pay for…
Politics
Elon Musk’s SpaceX Could Make Billions If Trump’s Budget Proposal Is Approved
Elon Musk and SpaceX are big winners in Donald J. Trump’s 2026 spending plan. President Trump is delivering on Mr. Musk’s wish list at…
Business
Here’s the latest.
May 2, 2025, 11:22 a.m. ET The proposal aims to slash the budget for the National Science Foundation by more than 50 percent, to $3.9…
Politics
Musk Is Less Confident About DOGE Goals, 100 Days Into Trump Presidency
Seated at the head of a large conference table inside the West Wing’s Roosevelt Room on Wednesday afternoon, Elon Musk, dressed in his…
Politics
Trump Budget to Take Ax to ‘Radical’ Safety Net Programs
The Trump administration, which has made clear that it aims to slash government spending, is preparing to unveil a budget proposal as soon…
News
What Elon Musk Didn’t Budget For: Firing Workers Costs Money, Too
President Trump and Elon Musk promised taxpayers big savings, maybe even a “DOGE dividend” check in their mailboxes, when the Department…
Politics
Republicans Want to Make the Trump Tax Cuts Last Forever
When Republicans cut taxes in the past, they did so only temporarily, bowing to Washington’s arcane budget rules that limited how much…
Politics
U.S. Could Run Out of Cash by May, Budget Office Predicts
The U.S. could run out of money to pay its bills by late May if Congress does not raise or suspend the nation’s debt limit, the…
News
U.S. Infrastructure Improves, but Cuts May Imperil Progress, Report Says
Increased federal spending in recent years has helped to improve U.S. ports, roads, parks, public transit and levees, according to a…
Politics
U.S. Could Run Out of Cash by July, Analysis Finds
The United States could run out of cash to continue paying its bills by mid-July if Congress does not take action to raise or suspend the…
News
Markets and Corporate America Are Unfazed by Washington Chaos, for Now
Even by Washington standards, the second Trump presidency has begun in frenetic fashion: mass firings at federal agencies, tariff threats…
Politics
Republicans Love Trump’s Spending Cuts. Just Not in Their States.
Republicans in Congress have responded to President Trump’s unilateral moves to freeze federal spending, dismantle programs and fire civil…
Business
Elon Musk’s Oval Office Talk Dispels Doubts About His Power
We’ve got some more thoughts on Elon Musk’s $97 billion hostile bid for Sam Altman’s OpenAI, which, we’re told, still hasn’t been…
Politics
Senate Confirms Russell Vought as Office of Management and Budget Director
The Senate voted along party lines on Thursday to confirm Russell T. Vought to lead the Office of Management and Budget, putting in place…
Politics
What Is a Sovereign Wealth Fund? Trump’s Executive Order, Explained
While he was campaigning last fall, President Trump bemoaned the lack of a U.S.-backed investment fund and promised to create one. “Other…
Business
An Unconventional Plan for Fixing the Federal Budget
I spoke to Marc Rowan, the C.E.O. of Apollo Global Management, about a provocative plan he believes could fundamentally reshape our…
Politics
Federal Debt Is Now Worrying Even Progressives
The 119th Congress began, as it so often has in recent years, with calls from Republican politicians for wrestling down the national debt,…
Business
Higher Interest Rates Make Federal Debt More Expensive
The path of interest rates over the next year doesn’t just affect the cost of mortgages and car loans. It also makes it more expensive for…
Politics
Senate Confirms Scott Bessent as Treasury Secretary
The Senate on Monday voted 68 to 29 to confirm Scott Bessent to be President Trump’s Treasury secretary, putting in place the new…
Politics
Musk Plan for Retooling Government Takes Shape, but Big Questions Loom
The initial plan for retooling the federal government under President Trump started with three loyal billionaires: the banker Howard…
Politics
U.S. to Deploy ‘Extraordinary Measures’ to Avoid Default on Jan. 21
Treasury Secretary Janet L. Yellen told Congress on Friday that on Jan. 21 the Treasury Department will have to begin using “extraordinary…
Politics
US Debt Faces Record as Trump and GOP Plan Tax Cuts
The United States is poised to add trillions of dollars to the national debt over the next decade as the mounting costs of social safety…
Politics
Trump Treasury Pick Scott Bessent to Face Grilling
Scott Bessent, President-elect Donald J. Trump’s pick for Treasury secretary, will face questions from lawmakers on Thursday about how he…