Month: April 2021

Is a $2.3 trillion infrastructure plan right for America?

At the height of the Great Depression, President Franklin Roosevelt put America to work. In 1935, when 1 in 5 Americans were unemployed, Washington launched the Works Progress Administration, still the largest public works initiative in the country’s history. Its initial appropriation was $4.9 billion (about $90 billion in today’s dollars), and within three years, […]

Jeffrey Wennberg: Where have the deficit hawks gone?

Former U.S. Sen. Robert Stafford was no friend of President Ronald Reagan. He was one of the last liberal Republicans in the Senate and, due to his seniority, exercised power disproportionate to the diminutive state that elected him. And true to the Vermont stereotype, he openly challenged the popular president whenever his displeasure over national […]

Your Views: National debt spiraling out of control

In an interview with the Washington Post’s Bob Woodward, candidate Donald Trump proposed to erase the national debt during the 2016 presidential primaries. Trump: “We’ve got to get rid of the $19 trillion in debt.” Woodward: “How long would that take?” Trump: “Well, I would say over a period of eight years.” Economists said at […]

OPINION: Debt and taxes

In 1978, toward the end of eighth grade, I appeared before the Downtown Optimists Club of Oklahoma City to deliver a speech focusing on the alarming growth of our national debt. I did so as part of an annual contest that encouraged young people to become orators and to start thinking seriously about matters of […]

U.S. government spent $660 billion more in March than it collected in revenue, the third-largest monthly deficit on record

Stimulus plan and $1,400 checks drove spending much higher as the White House and Republicans clash over where to spend money next The federal government spent $660 billion more than it collected in tax revenue this March, the Department of Treasury said Monday, as the Biden administration’s stimulus package pushed the U.S. monthly deficit near […]

Is the National Debt Finally Going to Be a Problem?

“As President Joe Biden unveils his own ambitious spending plans, it is worth asking if the national debt is finally going to have its moment.” In normal times, the national debt is something of a losers’ issue—a political cudgel used by the party currently out of power (or ardent libertarians, who are always out of […]