With all the debate going on about taxes and spending, it's a good time to get educated on the federal budget and national debt. Take our crash course and test your knowledge with our quizzes.
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22 December 2017 - Legislation passed in December and other developments have set the stage for higher deficits and national debt. Trillion-dollar deficits could now return as early as next fiscal year and the debt could exceed the size of the economy within a decade. We have a rundown on what could run up the debt and other happenings related to the federal budget.
19 December 2017 - It is clear that the final tax bill in Congress falls well short of being fiscally responsible or reforming the tax code, as supporters initially promised.
18 December 2017 - Congress is on the cusp of passing tax legislation. But prominent voices continue to call for a better approach.
14 December 2017 - Negotiators from the House of Representatives and Senate are about finished ironing out the differences in the tax bills they recently passed and plan to vote on final tax legislation the week of December 18. The conference committee reconciling the two bills was another missed opportunity to improve the legislation so that it really transforms the tax code without adding to the national debt. Instead, it looks like more gimmicks will be added that will increase the true cost of the legislation.
$20 Trillion Debt