Fiscal Policy

The Federal Budget

REUTERS/Jason Reed - A lone worker passes by the U.S. Capitol building in Washington, October 8, 2013. A few faint glimmers of hope surfaced in the U.S. fiscal standoff, both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.

Opinion

Today's Deficit is not the Problem

October 24, 2014, David Wessel

David Wessel says that recent comforting deficit projections assume Congress will stick to strict spending caps, which is a bold assumption to make.

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