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President Biden, who just secured the Democratic nomination for this year's election, revealed his massive $7.3 trillion budget proposal for fiscal year 2025 earlier this week.
WASHINGTON (Reuters) -President Joe Biden sketched his policy vision for the United States on Monday, unveiling a $7.3 trillion spending wish list that is as much an election-year pitch to voters ...
The Congressional Budget Office (CBO) projected two weeks prior to Obama taking office in January 2009 that the deficit in FY2009 would be $1.2 trillion and that the debt increase over the following decade would be $3.1 trillion assuming the expiration of the Bush tax cuts as scheduled in 2010, or around $6.0 trillion if the Bush tax cuts were ...
Blinder and Watson reported that budget deficits tended to be smaller under Democrats at 2.1% potential GDP versus 2.8% potential GDP for Republicans, a difference of about 0.7 of a percentage point. They wrote that higher budget deficits should theoretically have boosted the economy more for Republicans, and therefore cannot explain the ...
The budget deficit increased from $665 billion in 2017 to $779 billion in 2018, an increase of $114 billion or 17%. The budget deficit increased from 3.5% GDP in 2017 to 3.9% GDP in 2018. Compared to the budget deficit of $487 billion forecast for 2018 by CBO just prior to Trump's inauguration, the actual budget deficit was up $292 billion or 60%.
The Committee for a Responsible Federal Budget has estimated that Harris's policy proposals would increase the federal deficit by $1.7 trillion over a decade. [21] The Tax Foundation has estimated that her proposals would cost over $2 trillion over a decade. Harris's more populist proposals, such as her proposal to end taxes on tips and ban ...
In 2019, despite funding cuts to the Corps, the Port of Savannah received the full $130.3 million requested by Trump while In 2018, it received $186 million. For his 2020 federal budget proposal, President Trump requested $86 million (~$99.8 million in 2023) for the project. [84]
In December 2023, facing a long-term budget shortfall, Moore announced a six-year plan to cut the state's transportation budget by $3.3 billion, or eight percent, including a $1.6 billion cut to "all major highway expansion construction projects" and a $652 million cut to transit expansion projects.