Spending

Democrats on Thursday rejected a resolution that asked the Treasury Department to give Congress its assessment of whether big spending bills are having an effect on inflation.

Congress could consider hundreds of billions in new spending at the end of 2022, which would require new borrowing and would keep inflationary pressures elevated, says one budget expert.

The IRS is hiring more than 700 new customer service representatives even as several large companies have announced layoffs amid fears of rising recession risks.

The federal government borrowed $83 billion in October, putting it on a pace for another $1 trillion budget deficit this year despite lower costs related to the COVID pandemic.

FOX Business host Larry Kudlow calls out President Biden for his statement on $1.4 trillion deficit drop being the largest one-year decline in history on 'Kudlow.'

Former White House OMB director Russ Vought argued Biden's continuous spending and bad regulations make the Fed's job of reducing inflation much harder.

Ohio Republican Congressman Jim Jordan addressed Biden's latest military aid package to Ukraine, arguing U.S. taxpayers should not be paying for more weapons

The White House is under fire for not making public a cost analysis for President Biden's plan to cancel between $10,000 to $20,000 in debt for some Americans.

The White House argues that restarting student loan payments in early 2023 will offset any inflationary effects from handing out $300 billion for outstanding loans.

Rising inflation is eating away at strong wage gains that American workers have seen in recent months. Real average hourly earnings decreased 0.1% in April from the previous month as the inflation increase eroded the 0.3% total wage gain, according to the Labor Department.

The House of Representatives is planning to announce they will give staffers in Washington, D.C., and in district offices, free Peloton memberships using taxpayer dollars each month amid skyrocketing inflation.

American households are confronting the steepest inflation in a generation, paying more for everything from cars to food to rent as soaring prices eat away at most workers' wage gains.

The U.S. economy likely slowed to a crawl during the first three months of the year, dampened by a record U.S. trade deficit and slower inventory growth after a very strong finish at the end of 2021.

U.S. consumers continued to open their wallets in March, even as they confronted the hottest inflation in four decades.

The Labor Department reported Tuesday that consumer prices in the Mountain region – which includes Montana, Wyoming, Idaho, Nevada, Utah, Colorado, Arizona and New Mexico – surged by a stunning 10.4% in March.

The newest inflation data out this week is expected to show another jaw-dropping figure as the Russian war in Ukraine sent oil and gas prices spiraling higher.

President Biden on Monday unveiled a new minimum tax targeting billionaires as part of his 2023 budget request, proposing a 20% rate that would hit both the income and unrealized capital gains of the wealthiest Americans.

More than half of U.S. households paid no federal income taxes in 2021, a temporary spike attributed to massive COVID-19 relief spending in the form of tax credits and stimulus payments.

President Biden’s signature legislation, the $1.9 trillion American Rescue Plan, allocated $350 billion to assist struggling localities and states get through the COVID-19 pandemic.

Americans' inflation fears skyrocketed again in February, with concerns over prices hitting the highest level in over a decade, according to a Federal Reserve Bank of New York survey published Monday.