There’s a reason the federal budget hasn’t seen a surplus since 2001. Hint: it’s hard.

Despite the gloomy outlook, California is in a better position to weather an economic downturn than it has been in the past.

The budget deficit has roughly halved in size, but critics say student loan forgiveness adds unnecessary red ink.

Under Trump, $3 trillion was added to the national debt before the pandemic while tax revenue was slashed by $1.5 trillion, Wallace reminded the Republican.