Nancy Cook

Nancy Cook

Economic and Fiscal Policy Correspondent

Nancy Cook is the economic and fiscal policy correspondent for National Journal, where she covers economic proposals out of Congress and the White House; tax policy; and the federal budget process.

Her writing and reporting on business, economics, and politics has appeared in print, online, and on-air for Newsweek, Fast Company, The Atlantic.com, GOOD, and National Public Radio. She has appeared on PBS’s NewsHour, C-Span, MSNBC, and various national radio programs to discuss her work—and frequently moderates panels and policy briefings for National Journal and the Atlantic Media Company.

Before relocating to Washington D.C. in August 2011, she worked as a staff writer for Newsweek and Fast Company in New York and taught as an adjunct professor at the Columbia Graduate School of Journalism. A seven-month-long multimedia project she created for Newsweek.com about the labor market following the Great Recession won the New York Press Club award in 2010 for best business reporting on the Internet.

She’s a graduate of the Columbia J-School and Carleton College in Minnesota and currently lives in the district with her husband, a political journalist.

Nancy Cook's Latest Posts

Senate Gears Up for Floor Fight on Immigration

Following a scheduled vote on its farm bill, the Senate this week will press ahead with major legislation to legalize 11 million undocumented immigrants. Read More »

Why the IRS Scandals Make It Hard to Fix the IRS

On the one hand, it helps the momentum for tax reform. On the other hand, wonks are now investigating alleged wrongdoing rather than devising new policy.  Read More »

CBO Details Top 10 Most Expensive Tax Breaks

The biggest tax expenditures will cost the federal government roughly $900 billion in 2013 and close to $12 trillion over the next several years through 2023—about 5.4 percent of the gross domestic product. Read More »

The IRS Was Built to Be Tone Deaf

Insularity and autonomy were once thought to be key ingredients for a nonpartisan tax-collecting agency.  Read More »

More Scrutiny Ahead for the IRS

Think the Internal Revenue Service scandal will fade away in time for summer? That may be wishful thinking on the part of the White House and congressional Democrats, who are poised to endure another week of congressional hearings i...

Read More »

Why You Should Feel Sorry for the IRS

Employees there don’t just collect taxes. They also implement America’s social policy and regulate different kinds of groups—without the money, training, or staff to do so.  Read More »

Both Parties Face Tricky Balancing Act at IRS Hearings

Even amid crisis and scandal, the two parties remain as divided as ever—especially when it comes to finding any solutions. Read More »

5 Questions About That Obama IRS Mess

Here's what you need to know about the alleged targeting of conservative groups' tax status. Read More »

'Obamacare' Repeal: Will the 37th Time Be the Charm?

With tensions over fiscal issues building, and the three-month suspension of the nation’s debt limit set to expire Sunday, lawmakers this week will be rehashing on the House floor their messaging war over repealing President Obama...

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IRS Blunder Gives Republicans Ammunition in Effort to Defund the Agency

The Internal Revenue Service’s admission that it inappropriately targeted conservative political groups for special scrutiny during the 2012 presidential election only gives congressional Republicans more ammunition as they try to...

Read More »

Some Republicans Don’t Believe Austerity Is Enough

Strategists and wonks are urging House leaders to refocus their economic message on ideas that the middle class actually care about.  Read More »

Overhauling the Tax Code With 'Max and Dave'

Max Baucus and Dave Camp, Congress's top tax-writers, are taking their message to the Internet in hopes of building public support for their efforts. Read More »

Debt-Ceiling Fight May Flare This Week

House Republicans will push action on a bill signaling no retreat from their demand for spending cuts as a condition to any ceiling hike. Read More »

Forget the Unemployment Rate: The Alarming Stat Is the Number of 'Missing Workers'

The unemployment rate dipped slightly to 7.5 percent in April, but that’s little consolation for the millions of workers who have dropped out of the labor force and who economists struggle to understand. Read More »

A Playbook for Undoing the Sequester

When Congress voted last week to give the FAA more flexibility with its cuts, it set off a race among other special interests to push for exemptions.  Read More »

What Will Max Baucus Do With His New Political Freedom?

The Montana senator's retirement could affect legislation on guns, taxes, immigration, and the debt ceiling. If only he'll agree with his fellow Democrats. Read More »

Get Ready To Be Taxed on Internet Purchases

The Senate is scheduled to debate the Internet sales-tax legislation this week. The bill is expected to pass. Read More »

Immigration Debate May Grow More Complicated

With Congress focused on immigration reform this week, the national security aspects of the issue are moving to the forefront amid efforts by some conservatives to inject the Boston Marathon bombing suspects into that debate. Read More »

Routes to a Budget Deal Appear Stalled

The two routes to an agreement—regular order or schmoozing—do not seem to be working, despite Washington's deep dive into fiscal issues. Read More »

‘Chained CPI’ Could Hit Middle-Class Retirees Hardest

Which programs are exempt from chained CPI? And do proposed protections go far enough to protect low-income people? Read More »
BUDGET

It's Easy to Fix Social Security

Unlike Medicare and Medicaid, it's simple arithmetic. If only the politics added up.  Read More »

Obama's Budget Garners Anger From All Sides

Roughly 24 hours after the White House released its budget, liberal Democrats were furious about its so-called chained CPI provision, which would change the cost-of-living calculation for federal benefits like Social Security. Meanw...

Read More »

The Real Budget Action Won't Come Until Tonight's Dinner With the GOP

Contrary to popular belief, the real budget action on Wednesday won’t begin until the early evening, when 12 Republican senators are scheduled to arrive at the White House for a private dinner with the president. Read More »

What to Expect in Obama’s Budget

Apart from the president’s plan to formalize cuts that he has already proposed, what else can Americans expect from a budget that’s roughly two months late and that follows both parties’ congressional budget proposals? Read More »

Agenda Is Stacked for Return of Congress; Obama Will Pile on More With His Budget

The prospects for renewed talks on a long-term deficit-reduction deal reach a pivotal point this week with the release Wednesday of President Obama’s budget plan, which offers cuts to Social Security and Medicare in the hope of so...

Read More »

House Republicans Map Out Strategy for Debt-Ceiling Battle

When the House Republicans return from recess next week, one of their top priorities will be charting out the next fiscal battle—the debt ceiling. Read More »

Sequester Slashes Help for Long-Term Unemployed

The across-the-board cuts are about to reduce the payout of federal emergency unemployment checks by as much as 10.7 percent. Read More »

Short-Term Flexibility Won't Help Long-Term Impact of Sequestration

President Obama signed legislation on Tuesday to keep the government funded through the end of September and to give greater flexibility to a handful of agencies as they roll out the mandated across-the-board spending cuts known as ...

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From Hoops to Harry Potter: Behind the Scenes of the Senate's All-Nighter

After four years of waiting, senators unleashed a torrent of budget amendments that pushed the vote-a-rama well into Saturday morning. No wonder everyone looked a little unhinged.   Read More »

LIVE UPDATES: What's Happening at the Senate Vote-A-Rama

The Senate's hours-long marathon of votes on amendments to the budget has begun. Here's what's worth knowing. Read More »

The GOP Disconnect on Economic Policy

The RNC may want to send a few extra copies of the election postmortem to Capitol Hill. Judging by the budget blueprints put forth by congressional Republicans, they didn’t get the memo. Read More »

House GOP Committee's New Budget Plan: Faster, Deeper Cuts

The Republican Study Committee's new plan balances the federal government in just 4 years, whereas Paul Ryan’s balances it in 10. Read More »
BUDGET

There's New Hope for a Grand Bargain

Amid the hot air in Washington comes the whiff of compromise. Read More »

In New Budget, Senate Democrats Offer Alternative Political Vision

For the first time since 2009, Senate Democrats on Wednesday introduced a budget resolution, which promised to stabilize the debt over the next decade and raise new revenue and cut spending in equal parts. Read More »

House Republican Budget Offers More of the Same

By unveiling a budget blueprint that would erase the deficit in just 10 years, House Republicans sought on Tuesday to make that goal the gold standard and bare minimum for all future budget battles between the two parties. Read More »

Dueling Budget Plans Help Define Both Parties

By the middle of this week, Americans will once again be plunged into the wildly different world views of Republicans and Democrats as the two parties release competing budget proposals within hours of one another. Read More »
BUDGET

Why the Senate Democrats' Budget Will Be Vague

The fewer specifics they offer, the less political ammunition there will be for the GOP to use against them. Read More »

Obama's Dinner Out With Senators Didn't Solve the Budget Mess, But It Did Ease Tensions

Want the partisan acrimony between Democrats and Republicans to fade? Turns out all you need to do is buy people a fancy meal. Read More »
BUDGET

Furloughs Come to Main Street

Automatic spending cuts will affect federal workers wherever they live—even thousands of miles from Washington. Read More »

Sequester's Economic Impact Will Build Slowly

The inopportune moment of sequestration — hitting just as the economy shows bright spots — will create a drag on the economy in a slow-motion manner. Read More »

The Overhyped, Overblown, & Overly Politicized Sequester Fears

It turns out that the next big fiscal crisis will seem more like a whimper when it hits on March 1. Read More »

Few Know Jack Lew's Views on Big Bank Laws As His Confirmation Moves Through Senate

So far, the Senate proceedings on President Obama’s nominee for Treasury secretary, Jacob Lew, have been surprisingly free of political fireworks, which could pave the way for a confirmation vote by the end of the week. Read More »

Coming to A State Near You: Big Spending Cuts

The White House is trying to raise pressure on Congress to cancel automatic spending cuts by releasing the most detailed accounting to date of how the reductions would hit in the 50 states. The cuts, known as the sequester, are sche...

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New Simpson-Bowles Plan Overstates the Deficit Problem

The country’s annual deficit is shrinking, for now, but that hasn’t stopped the two most prominent deficit hawks from waging an ongoing campaign for the elusive grand bargain. Read More »

The Most Important Policies In President Obama's 2013 State of the Union Address

Everything you need to know from 2013's State of the Union address, from health care and the budget to immigration and guns. Read More »

Missed Opportunity? Obama May Avoid Spending-Cut Debate in Speech

When President Obama takes to the podium Tuesday night for the State of the Union, he’s expected to give scant attention to one of the most pressing issues facing Washington: the upcoming $85 billion in spending cuts. Read More »

The Math Behind the GOP Goal of Balancing the Budget in 10 Years

The plan spearheaded by Paul Ryan could prove to be an ingenious move for his party — or a disaster. Read More »

Can Washington Break Its Addiction to Crisis Economics?

The country has lurched from one emergency to the next since 2007. Amid a rare lull, here's a modest plan of action for Congress and President Obama. Read More »
BUDGET

Why the Vote to Suspend the Debt Ceiling Didn't End the Threat to the U.S. Economy

Delaying the fight could make matters worse if it just puts the economy in a holding pattern for the next several months. Read More »

Jack Lew Pick Shows Obama Is Ready to Play Tough on Budget

The pick of White House Chief of Staff Jacob Lew as the next Treasury secretary underscores President Obama’s intention to play tough with Republicans in a series of upcoming budget fights. Read More »

Thankless Job Awaits Jack Lew If He Heads to Treasury

President Obama is likely to nominate Geithner's replacement as early as next week and never has the top Treasury job seemed so thankless. Read More »
CONGRESS

The GOP's Failed 'Plan O': Inside the Fiscal-Cliff Saga

This is the story of Plan O – the congressional Republicans’ failed attempt to meet the challenge of Obama’s victory. It begins in September and ends in the fiasco of the Christmas season, when Speaker John Boehner was repudia...

Read More »

Fiscal Deal Would Only Set Stage For a New Year of Mini-Cliffs

In the coming days, the Democrats will bill the deal as a historic win for the party by saying it broke the Republicans' no-new-tax orthodoxy. That is true, but the small-scale deal poses its own problems over the long run for the...

Read More »

Wall Street and Financial Markets Await Smoke Signals From the Hill

The New York financial world sits just a four-hour train ride from Washington, yet the distance has seemed much longer in the last few weeks as politicians have parried over the fast-approaching fiscal cliff: that noxious mix of tax...

Read More »

Forget a Fiscal Cliff Grand Bargain. A Bare Bones Deal is the Only Hope

Congress and the White House made yet another public, last-ditch effort to resolve the fiscal cliff on Friday, as the mood increasingly darkened about the prospects of any deal and nearly 90 percent of Americans prepared to face ...

Read More »
BUDGET

Wall Street to D.C.: Get Serious About the Fiscal Cliff

The New York financial world is all about the bottom line. So it can't quite fathom a dysfunctional Washington that's all about finger-pointing.       Read More »
BUDGET

Time for Fiscal-Cliff Plan C? Here Are 3 Options for Entitlements

The White House is looking for a "Plan C" for the fiscal-cliff negotiations, after talks between the White House and House Speaker John Boehner have gotten off track. As the president and his staff turn to the Senate now for a possi...

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CONGRESS

How Boehner's Plan B Vote Imploded

Plan B, the fiscal cliff tax proposal that would extend the Bush tax cuts on income for those who earn $1 million or less and that Boehner said earlier Thursday would pass, failed to win enough support in the Republican Conference. ...

Read More »
BUDGET

Don't Think the Fiscal-Cliff Impasse Is Over Numbers--It's Over Politics

Politics usually worms its way into any situation. It has with the fiscal-cliff negotiations, which, on paper, look deceptively close to a resolution. Read More »
LEADERSHIP

Exodus of Baucus Staff

The Chairman of Senate Finance is losing his top tax people from both his personal and committee staff, expertise that will hurt if the committee plunges ahead with tax reform in 2013. Read More »
BUDGET

Fiscal Cliff Talks Devolve Into Day of Dueling Press Conferences

In an effort to resurrect a fiscal cliff deal before Christmas, President Obama tried to paint Republicans as unreasonable protectors of the wealthy preoccupied with their own party orthodoxy rather than the wellbeing of the country. Read More »
ANALYSIS

When It Comes to Fiscal-Cliff Policy, Boehner and Obama Are Close

The dirty little secret about the current state of play of the fiscal-cliff negotiations is that Democrats and Republicans aren’t very far apart in their proposals. Read More »

Dems Dodge Questions on Spending Cuts

President Obama’s latest fiscal cliff offer to support deeper spending cuts to popular government programs puts his Democratic allies on Capitol Hill in a tough spot on Tuesday and had them dodging questions about whether they cou...

Read More »
CONGRESS

Obama, Boehner Not Far Apart on Fiscal-Cliff Numbers

If you stop listening to the political noise on the Hill today, you’ll realize the dirty secret about the current state of play of the fiscal-cliff negotiations: The Democrats and Republicans aren’t very far apart in their propo...

Read More »
CONGRESS

Newtown Shooting Provides Perspective Amid Fiscal Cliff

Two days after the Newtown school massacre, Congress returned to Washington with a more subdued attitude toward partisan bickering and with a newfound focus on finding a compromise on the fiscal cliff. Read More »

Can Boehner Sell the GOP on Obama's New Fiscal Cliff Offer?

President Obama has made a key concession in talks over how to avoid the fiscal cliff, offering to accept a key Republican demand for deeper spending cuts in exchange for raising tax rates on Americans making more than $400,000 a...

Read More »
ECONOMY

White House Makes New Counteroffer to GOP

In a new counteroffer to House Republicans on the fiscal cliff, the White House has proposed allowing tax rates to rise for those making over $400,000 a year. Read More »
CONGRESS

GOP Movement on Taxes Still Leaves Huge Budget Quandary

In a sign of movement toward resolving the fiscal cliff, House Republicans have begun to budge on their no-new-tax stance. In a development first broken by Politico, Speaker John Boehner privately signaled a willingness to...

Read More »
BUDGET

The Fiscal Cliff Plan B for Republicans

Week five of the fiscal-cliff negotiations came and went without any resolution, as Republicans increasingly looked for a backup plan to help them avert the fiscal cliff, save face on taxes, and give as little ground as possible pol...

Read More »
ANALYSIS: BUDGET

Democrats, Too, Face Risks in Fiscal-Cliff Talks

Democrats could suffer just as much as Republicans politically if Congress and the president do not reach a budget deal. Read More »
LEADERSHIP

Boehner, Obama No Closer to Cliff Deal After Latest Offers

After swapping more offers and counter offers early this week, President Obama and House Speaker John Boehner remain hundreds of billions of dollars apart in talks to avert the recession-threatening fiscal cliff, as both frustrat...

Read More »
CONGRESS

White House Adds Corporate Tax Reform to Cliff Offer

The White House sweetened its latest offer to House Republicans by including in the details an overhaul of the corporate tax code, according to sources familiar with the fiscal cliff talks. Boehner's spokeman quickly dismissed it, c...

Read More »
POLITICS

Fiscal-Cliff Showdown Mirrors Payroll-Tax Fight

The fight over the fiscal cliff, politically at least, is starting to look a lot like last December’s message wars over the payroll-tax holiday. Read More »
ECONOMY

Boehner Sends Cliff Counter, But Revenue Too Light for White House

House Speaker John Boehner’s fiscal-cliff counter offer on Monday boots the ball squarely back into President Obama’s court, buying the Republican leader time as Democrats work the clock to force Republican to cave in their oppo...

Read More »
ANALYSIS: HEALTH CARE

Why a 'Grand Bargain' Wouldn't Target Medicaid

The Supreme Court has made Medicaid a much less appealing target for cuts in any deficit-reducing deal. Read More »
CONGRESS

Despite Happy Talk, Slow Progress in Fiscal Cliff Talks

The Kumbaya rhetoric and photo-ops between President Obama and congressional leaders surrounding the so-called fiscal cliff are starting to wear thin. Congress returned to Washington this week, confronted with a calendar that le...

Read More »
BUDGET

Billionaire Peterson Sounds Alarm on Deficit

The so-called fiscal cliff is like showtime for Pete Peterson. The 86-year-old deficit hawk and long-time New York financier has been harping on the perils of the country’s deficit for years. Now he hopes politicians and the p...

Read More »
ANALYSIS: BUDGET

What a Tax Deal Might Look Like

The president and GOP leaders have laid out the parameters of a compromise to avoid the fiscal cliff. Read More »

Obama Aide Calls for At Least $1 Trillion in Revenue

One of the president’s top economic advisers gave more shape to the White House’s position on the fiscal cliff on Thursday, when he called for at least $1 trillion in revenue and dismissed the idea of finding that solely through...

Read More »
BUDGET

President Signals a Tough Line on Taxes

President Obama cast himself as an open-minded negotiator during his first, post-election press conference—even as his words amplified the administration’s increasingly tough stance on taxes. Read More »
POWER

Why Scott Brown Could Tack to the Middle

Add Sen.  Scott Brown  to the lengthy list of  members to watch  during the lame duck session. Read More »
ELECTION 2012: THE LAME DUCK

To Avert a Fiscal-Cliff Catastrophe, Someone Has to Blink

Few people expect President Obama to back down from his tax-the-rich stance. But the fact remains that the fiscal cliff is on the horizon.  Read More »
WHITE HOUSE

Jack Lew: The Man Who Could Save Obama's Legacy

Lew’s power has grown over less than a year as President Obama’s chief of staff—and he already has Republicans dreading a budget confrontation with him during the lame-duck session of Congress. Read More »
INFLUENCE

BRT Looks Past Fiscal Cliff to 2013 Tax Reform

The only palace intrigue now is if a re-elected Obama would support a territorial system, which BRT supports because it would tax multinational corporations only on domestic profits, allowing them to bring overseas profits back into...

Read More »
LEADERSHIP

Was Biden Signaling a Shift on Taxes?

  All around town this week, bold-faced name decision makers laid down their markers on the fiscal cliff. Read More »
WORKFORCE

What Happens to the Children of the Unemployed?

One of every nine American children has seen parents lose jobs during the Great Recession and now face a future riddled with uncertainty. Read More »
RESTORATION CALLS: GENERATIONS

What Happens to the Children of the Unemployed?

One of every nine American children lived with an unemployed parent at the height of the Great Recession. Their experiences will stay with them for years. Read More »
CAMPAIGN 2012

The State of the Paul Ryan Brand Coming Into the Debate

When Mitt Romney picked Rep. Paul Ryan, R-Wis., as his running mate in early August, both conservatives and liberals rejoiced. Read More »
POLITICS

Romney Tax Plan Goes From Algebra to Calculus

Two days before the first presidential debate, Mitt Romney unveiled a new, specific policy idea--one that would help him counter the claim that he would raise taxes on the middle class. Read More »
CAMPAIGN 2012

Obama, Romney Talk Lots on Taxes, Say Little

Despite the many words uttered Wednesday night about taxes, neither President Obama nor Republican candidate Mitt Romney unveiled any new policy specifics during the first presidential debate. Read More »
ELECTION ANALYSIS

Debate is Make or Break for Romney

After nearly six years of running for president, millions of dollars spent on ads, a massive political convention, and hundreds of rallies in swing states like Ohio, Florida, and New Hampshire, Mitt Romney’s bid to become the next...

Read More »
SUNDAY SHOWS

Chris Christie on Debate: 'Entire Narrative of This Race Will Change'

New Jersey Gov. Chris Christie played up the expectations for Mitt Romney’s Wednesday debate performance on NBC’s Meet the Press , on the same day that vice presidential candidate Paul Ryan tried to temper them. Read More »
SUNDAY SHOWS

Ahmadinejad: Iran Will Retaliate if Attacked

Capping a week of appearances in New York, including a speech at the United Nations, Iranian President Mahmoud Ahmadinejad said that an Israeli strike against Iran would not fundamentally affect the country . Read More »
SUNDAY SHOWS

Ryan Tries to Lower Debate Expectations

Republican vice presidential candidate Paul Ryan tried to temper the expectations for the first presidential debate during his appearance on Fox News Sunday. Read More »
SUNDAY SHOWS

Ryan: Obama Foreign Policy is 'Weak'

Republican vice presidential candidate Paul Ryan went after President Obama’s foreign policy record on Fox News Sunday , just days before he said that Mitt Romney is slated to give a major foreign policy speech. Read More »
CAMPAIGN 2012

Who Are the 47 Percent?

Mitt Romney’s bashing of the 47 percent of people who pay no federal income taxes may have sounded like a shocking admission to liberals, but it’s a talking point that conservatives--and not just Romney--have grown fond of in th...

Read More »
ANALYSIS

White House Cranks Up Pressure with Stark, But Vague, Sequester Report

When the much-anticipated White House report landed in inboxes Friday afternoon, budget watchers were anxious to pore through the 400 pages detailing more than 1,200 budget accounts to understand just how painful sequestration might...

Read More »
POWER

Will Jobs Report Overshadow Any Bounce in Polls for Obama?

It's not that the economy is perfect. It's just that the president needs more time to fix the mess he inherited. Read More »

Arianna Channels Her Inner Oprah

Scented candles, check. Books on sleep and blood sugar, check. Yoga and meditation. Coconut water, pomegranate juice, all-white furniture, and vases of freshly cut flowers. These are the hallmarks of Oprah Winfrey’s live-your-best...

Read More »

Democrats to Chant Familiar Mantra on Taxes

If you’re sick of hearing the Democrats’ mantra of taxing the wealthy, then cover your ears on Thursday and for the rest of the fall. Read More »
PEOPLE

Planned Parenthood, Kay Hagan and Common Party at the Democratic National Convention

Convention goers streamed onto the streets of downtown Charlotte Tuesday night, eager to party after a series of speeches that riled up the base. Read More »

Democrats Seek to Fire Up Female Voters

At the Democratic National Convention in Charlotte, every night is ladies’ night. Read More »

Not All Mormons Rooting for Romney

Even though he’s the first-ever Mormon presidential nominee, not all members of The Church of Jesus Christ of Latter-day Saints are supporting Mitt Romney. That much was apparent on Tuesday afternoon at the Holiday Inn, where t...

Read More »
PEOPLE

Tony Bennett, Pelosi, John Legend, and More Party at the DNC

The Democratic National Convention party scene kicked up several notches on Monday night, as the politicians arrived in town and corporations threw lavish bashes all around the city. Read More »

Conventioneers Snag Political Swag

Before the convention even started, the Charlotte host committee was trying to cast the Democrats as the “big tent” party, just a few days after the Republican National Convention pulled out all the stops to try to appeal to ...

Read More »
PEOPLE

Who's Partying at the Democratic National Convention

"YOU GOT IN" : The big shindig on Sunday night at the Democratic National Convention was meant to be so exclusive that it was known as the "You Can't Get Into This Party" Party. Read More »

Tech Firms to Court Democrats With Trendy Parties

Want to find one of the hottest parties in Charlotte? Look for a stack of shipping containers. Read More »

A-List Stars Align in Charlotte

Apart from Clint Eastwood’s talking-to-a-chair routine, the celebrity quotient at the Republican National Convention was, well, a bit D-list. Actor Jon Voight was the biggest name wandering around the convention hall, followed ...

Read More »
CONVENTIONS 2012

Ryan Takes Attack Dog Role

Vice presidential candidate Paul Ryan stepped up to the podium Wednesday night at the Republican National Convention and assumed his position as Romney’s chief attack dog. Read More »

Ryan’s Worldview Attracting More Adherents

Paul Ryan delivers the speech of his political life on Wednesday evening, but regardless of how it’s ultimately received by the pundits and the public, the vice presidential nominee has already scored a major victory. Read More »
CONVENTIONS 2012

In Excerpts, Ryan To Go After President on Economy

Rep. Paul Ryan will attack President Obama’s economic record and discuss GOP efforts to help the middle class, according to excerpts of his primetime speech on Wednesday night at the Republican National Convention. Read More »
CONVENTIONS 2012

Has Ryan Already Won Victory He Seeks?

Rep. Paul Ryan has already won the political victory he craves, regardless of whether the Republicans take the White House. His budget blueprints, though controversial when he first introduced them, have morphed into the intellec...

Read More »

Seen at the RNC: Outfits, Parties, and Baldwins

In the hours leading up to her speech on Tuesday, Ann Romney still didn’t know what to wear. Not that it’s an easy choice for a potential first lady, whose outfits receive the scrutiny of both the fashion press and the nation...

Read More »

All Sizzle, No Steak in Romney-Ryan Tax Plan

Cut, cut, cut. Oh, and did we mention cut? Read More »
FISCAL POLICY

Obama vs. Romney: How Big a Government?

President Obama and Mitt Romney have fundamentally different positions on taxes, spending, and budget deficits. Read More »
OBAMA VS. ROMNEY: FISCAL ISSUES

Obama vs. Romney: Fiscal Issues--Graphic

A look at President Obama's and Mitt Romney's respective fiscal-policy positions, their records, and their key advisers. Read More »
ECONOMY

Congress Faces Stark Choices as Economy Approaches Year-End Fiscal Cliff, CBO Says

The drumbeat about the magnitude of year-end tax and spending decisions continued on Wednesday, as the Congressional Budget Office released its updated economic and budget outlook for the next 10 years and its final forecast befo...

Read More »
ANALYSIS

Simpson-Bowles: The Budget Plan Everyone Touts, But Actually Hates

Coming this holiday season! From the people who brought you the most acclaimed, misconstrued, pain-laden tax and budget plan of all time! It’s Simpson-Bowles: The Sequel!  Read More »
ANALYSIS

Don’t Count on Americans Caring That Much About Ryan’s Pet Issues

Americans are not ready to debate the size and scope of the federal government, pollsters say, despite the presidential campaign’s sudden detour toward issues like the future of Medicare, Social Security, and the country’s deficit. Read More »
ANALYSIS

Romney-Ryan Ticket Brings Lame Duck Debate Forward

The tax and spending debates that Beltway insiders predicted would not begin in earnest until after the election have suddenly been thrust onto the national stage, thanks to Rep. Paul Ryan’s new spot on the Republican presidential...

Read More »
CAMPAIGN 2012

Democrats Bolt Out of the Box To Define Ryan and His Budget

Rep. Paul Ryan is little known outside of Capitol Hill – offering  Democrats an opportunity to fill the vacuum with the most unflattering pictures possible of the new Republican vice presidential candidate with the famously...

Read More »
ANALYSIS

Strong Rapport Between Romney, Ryan Drives Budget Chair to Top

Mitt Romney and Paul Ryan developed a rapport so strong that the House Budget Committee chairman soared to the top of the list of potential vice presidential running mates. And while Ryan might initially seem like a person unli...

Read More »
LEADERSHIP

Tax Extenders Debate Gets Political, Parochial

Well, that didn't take long.    Less than 24 hours after the Senate Finance Committee's bipartisan warm and fuzzy fest over the tax extender package, lawmakers were back to good old fashioned politicking.    Playing  th...

Read More »
ANALYSIS

Bush Tax-Cut Votes All About November

Wednesday’s House votes on the fate of the Bush-era tax cuts ran along expected party lines, nicely setting the stage for taxation to be a focal point in the presidential race. Read More »

Senate Finance Moves on Extenders

In rare moment of bipartisan harmony, the Senate Finance Committee announced late Tuesday night that it would soon mark up legislation to extend dozens of expired and expiring tax provisions through 2013 for items such as researc...

Read More »
LEADERSHIP

Senate Dems High-Wire Tax Act

Senate Democrats face a tough political test this week as they work to support President Obama's call to tax the wealthy without alienating the well-heeled campaign donors whose money they'll need to compete in November and beyond...

Read More »
TAXES

What's Keeping Romney From Sharing His Taxpaying History?

There's some political calculus going on in Mitt Romney's camp, weighing criticism for a lack of transparency about his tax history against what would surely be months, and many more rounds of questions, about the Republican's wealt...

Read More »
ANALYSIS

Obama Campaign Move on Taxes Not Going to Happen

President Obama delivered essentially a campaign speech on Monday to make the case for extending the Bush-era tax cuts for one year for families who earn under $250,000. Read More »

Gaming Out the Lame Duck

It’s impossible to say what exactly will happen during the lame-duck session without knowing the outcome of the election. Sure, President Obama and the current Congress will preside over the fiscal To Do list during those six week...

Read More »
POWER

Murray, McCain Push Sequestration Amendment

Sen. Patty Murray , D-Wash., and Sen. John McCain , R-Ariz., are now pushing to attach their amendment on sequestration to legislation that could move this week, including flood insurance, the highway bill, or student loans, an ...

Read More »
THE NEXT ECONOMY

Deploying Electrons to Battle … The Biggest and Baddest Banks

Consumer-centric financial start-ups hope to upend the big banks. Read More »
OBAMA VS. ROMNEY: FISCAL POLICY

How Big a Government Should We Have?

The latest installment in a series comparing the issue stands of President Obama and Mitt Romney looks at their positions on taxes, spending, and budget deficits. Read More »
OBAMA VS. ROMNEY: FISCAL POLICY

How Big a Government? GRAPHIC

A side-by-side comparison of President Obama's and Mitt Romney's policy positions, records, and key advisers. Read More »
ANALYSIS

Buffett Rule Heads to a Vote, Nears End of Its Legislative Life

Though the Buffett Rule should die quickly and quietly on the Senate floor on Monday, fear not: The political idea of taxing the rich will continue to dominate the campaign trail.   Read More »
NEED TO KNOW: BUDGET

Ryan's Budget Out of Balance

House Budget Chairman Paul Ryan garners wide praise for his latest GOP budget. But there’s a problem: It won’t come close to wiping out the deficit.  Read More »
ANALYSIS

Ryan Budget--a Political Document That Challenges His Fiscal-Hawk Reputation

House Budget Chairman  Paul Ryan , R-Wis., used his fiscal 2013 budget plan to demonstrate how little he likes the size and scope of federal government--a dramatic and perhaps unwise stance in a close election year. Read More »
BUDGET

Ryan Tries Again With Budget 2.0

Last year, the House Republican budget was billed as curbing the country’s so-called spending spree. Read More »
BUDGET

Ryan Budget to Include Firewall of Defense Sequester

House Republicans are planning to pull the defense spending cuts mandated by sequestration off the table in their version of the budget expected to be released next week, according to two Hill aides.   Read More »
BUDGET

House Republicans Push Budget Boundaries

All signs point toward House Republicans unveiling a budget early next week with spending cuts that go far deeper than those set forth in the Budget Control Act. Read More »
THE NEXT ECONOMY

First Comes Love, Then Comes … Well, It Depends on Your Schooling

Marriage has become a luxury good.  Read More »
ANALYSIS

Romney's Massachusetts Job Record Not as Great as He Wants You to Think

Mitt Romney is selling himself as a presidential candidate with the demonstrated ability to create jobs and boost a lagging economy. But his record as Massachusetts governor paints a different portrait — one of a politician w...

Read More »
NEED TO KNOW: BUDGET

Ryan: Deficit Reduction 'Trumps Everything Else'

Rep. Paul Ryan says he has a moral obligation to cut the debt—and that it takes priority over the GOP winning the White House.  Read More »
CAMPAIGN 2012

Obama, Romney Tax Plans Signal Game On for Tax Reformer Title

Overhauling the tax code is now officially a hot issue, and the political competition for the reform mantle is under way. Read More »
CAMPAIGN 2012

Romney's Tax Plan Slashes Individual, Corporate Rates

In an effort to shift the focus of the GOP presidential race back to economics, Republican candidate Mitt Romney on Wednesday offered a new version of his tax reform plan that would offer deep tax cuts to both individuals and corpor...

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TAXES

Obama Election-Year Corporate-Tax Plan an Opening Bid, Light on Details

The Obama administration unveiled a new corporate-tax plan on Tuesday that could intensify the tax-reform debate in Washington, but it is unlikely to result in any near-term reform. Read More »
BUDGET

Competing Visions for America

The political conflict over the appropriate role of government has been brought into sharp relief by the release of President Obama’s budget. Much of the dispute boils down to a single number: the percentage of the economy that sh...

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BUDGET

TAXES: Obama's Tax Proposal Sets Dem Benchmark for Future Reform

President Obama’s tax proposal, as part of his federal budget released on Monday, keeps up his campaign drumbeat of taxing the wealthy and sets a benchmark for the Democratic Party on any future tax reform packages. Read More »
BUDGET

Obama to Release Corporate Tax Reform Plan at End of February

The president plans to release a proposal for corporate tax reform by the end of the month, according to senior administration officials on Friday, though details of the proposal remain murky.   Read More »
BUDGET

Set Your Expectations Low for President Obama's Budget Request -- VIDEO

The conventional wisdom that already surrounds President Obama's fiscal 2013 budget is bleak, indeed. Dead on arrival. Just another political document. A collection of small-bore ideas. Read More »
BUDGET

Think Bold, Ryan Tells Conservatives

Just three days before President Obama is set to release his federal budget, the House Budget Committee chairman on Thursday rallied the conservative base by attacking Obama's tax, health care, and fiscal policies before a packed co...

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NEED TO KNOW: BUDGET

Low Expectations for Obama’s Budget

Don’t look for the president’s budget to break much new ground. Reelection-year budgets don’t usually amount to much. Read More »
COVER STORY

The 51 Percent

The debate over taxes isn’t just about the 1 percent. An estimated 51 percent of U.S. households don’t pay income taxes—a figure that many conservatives decry. But one reason many households are exempt is a tax break champione...

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ANALYSIS

Is Romney's Money Creating Jobs?

There's little evidence to link lower tax rates on investment income to economic growth, and Mitt Romney’s tax returns and financial disclosures perfectly underscore the difficulty of pinpointing what job-creation benefits the wea...

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ANALYSIS

Romney's Tax Management Requires a Big Team and a Big Budget

One of the most interesting details on Mitt Romney’s 2010 tax return, if you ask an accountant, is the blank line item for the cost of tax preparation. Here's a look at the cost, time, and team that go into preparing hundred-plus-...

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Q&A

Impeach Obama?

Grover Norquist says that if Obama wins reelection and doesn’t extend the Bush tax cuts, he’ll face a revolt that could result in impeachment.  Read More »
ANALYSIS

Tax Return Shows Romney's a Darwinian

We now know for sure that Mitt Romney is super rich and that his wealth sets him apart from most Americans. For one, he derives most of his money from investments rather than a salary or wages. In 2010, according to his newly releas...

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BUDGET

President Obama's Budget Delayed Until Feb. 13

The White House will release its budget a week late, on Monday, Feb. 13, according to an administration official. Originally, it had been scheduled for its release on Feb. 6. When asked about the delay, the official wrote in an emai...

Read More »

Romney and Gingrich: Contrasting Visions

The next Republican primary is either a fight for the future of the party, or yet another stop on the long road to the general election—it all depends on which GOP candidate you ask. Read More »
CAMPAIGN 2012

Santorum: 'This is a Three-Person Race'

Rick Santorum wants Floridians to know that he’s still in the presidential race. Read More »
CAMPAIGN 2012

Gingrich Says He's a Threat to Obama

Newt Gingrich tried to cast himself as the toughest threat to President Obama on Sunday morning, fresh off his blow-out victory in the South Carolina Republican primary and ahead of the next nominating contest. Read More »
CAMPAIGN 2012

GOP Candidate Tax Rates: Perry in the Middle at 27 Percent

There are no paupers among the Republican presidential candidates — just varying degrees of what many voters would consider immense wealth. Read More »
ANALYSIS

GOP Rhetoric at Odds with Americans' Feelings on Taxes

Americans feel pretty good about their tax bills. You wouldn't know it from the talk in Washington and on the campaign trail about overhauling the tax code, slashing rates on personal income, or creating a flatter tax system. Read More »
ANALYSIS

For Romney, South Carolina and Florida Are No New Hampshire

Though GOP hopeful Mitt Romney handily won the New Hampshire primary, exit polls reveal a chink in his strategy moving into South Carolina and Florida: his trouble wooing the middle class. Read More »
NEED TO KNOW: BUDGET

Romney’s Red-Blooded Fiscal Policy

Mitt’s methods may be more calculated than his opponents’, but his economic plan is truly conservative. Read More »
ANALYSIS

Santorum's Tax Policy Good for Families, Bad for the Poor

Forget America’s latest demographic studies showing that people increasingly are delaying marriage and putting off having children. In Rick Santorum’s world, married couples with a gaggle of kids will rule.  Read More »
Q&A

Grading the Negotiation Skills of Congress

Congressional leaders open another round in their year-long game of chicken. To get more perspective on this brinksmanship and the backstabbing behind closed-doors, National Journal spoke with Robert C. Bordone, a Harvard law prof...

Read More »
ECONOMY

If Congress Failed, What Would Have Happened?

Here is what's at stake if lawmakers fail to stitch together some deal to keep alive jobless benefits, the payroll tax cut, and the "Doc fix" patch. Read More »
ECONOMY

For the Price of the Bush Tax Cuts for the Wealthy, America Could Buy …

The Bush-era tax cuts divided Congress repeatedly this year, most recently helping to sink the super committee. With Democrats and Republicans stuck over this chunk of revenue,  National Journal  wondered, what else c...

Read More »
ECONOMY

Deficit Hawks to Press Case in 2012, Hope for Voters' Attention

Deficit hawks who gained prominence and some influence through this year’s debt-limit and super-committee negotiations will lobby a deadlocked Congress in 2012 to enact massive spending cuts and tax reform in the months before law...

Read More »
ECONOMY

If Congress Blocks Sequester, U.S. Rating Cut Could Follow

The long-term outlook for restoring the United States’ AAA credit rating suffered a significant setback on Monday with the super committee’s striking failure to make even a modest step toward its mandated goal of reducing the de...

Read More »
POLITICAL PROFILE

Elmendorf: The Academic Above the Partisan Fray

If you are a C-SPAN junkie, you probably recognize Douglas Elmendorf, the director of the Congressional Budget Office. Read More »
ECONOMY

Perry's Flat-Tax Proposal Unlikely to Please Anyone

The strange thing about Gov. Rick Perry’s proposed flat-tax plan is that it doesn’t really please pundits and policy wonks on either side of the political aisle. Read More »
SUPER COMMITTEE

Searching for Smoke Signals From the Super-Secret Committee

We may know the members’ names, but for all intents and purposes, the Joint Select Committee on Deficit Reduction operates more like a college secret society than a congressional committee. They schedule meetings at the last mi...

Read More »
Q&A

Van Hollen's Inside Look at the Super Committee

The Maryland representative and panel member offers insight into what he hopes will be the Democrats’ revenue strategy. Read More »
COVER STORY: WORKING-CLASS ASPIRATIONS

Dreams Diverging for Whites, Minorities

Far more working-class minorities than whites are optimistic about their economic opportunities. The different viewpoints are illustrated in the stories of an African-American woman who aspires to be a nurse, a Hispanic woman who wa...

Read More »
CAMPAIGN 2012

Perry Camp Braces for Fallout Over Ranch Sign

The next week could be a political slog for Republican presidential hopeful Texas Gov. Rick Perry, as his campaign is forced to play defense in the aftermath of two critical news stories and blunt criticism from fellow GOP presid...

Read More »
ANALYSIS

Obama Deficit Plan Skips Tax-Code Sacred Cows, Entitlement Programs

President Obama took the populist approach with his new deficit-reduction plan— ignoring the political feasibility of the proposal to go after tax breaks for millionaires, corporate-jet owners, and investment managers. Read More »
NEED TO KNOW: BUDGET

Payroll Taxes: The Small-Bore Solution

The payroll-tax break has been in effect since the beginning of the year. Problem is, there’s not much data to suggest that the cut serves its intended purpose of stimulating the economy by encouraging consumer spending. Nancy Coo...

Read More »
BUDGET

Revised CBO Report Could Need More Revisions

The latest outlook from the Congressional Budget Office should really be called the economic and budget picture of best guesses, for now. Read More »
BUDGET

Congressional Budget Office Predicts $1.3T Deficit in 2011, Third Largest in 65 Years

The Congressional Budget Office is now predicting a federal deficit of $1.3 trillion for 2011, according to its latest mid-term outlook, marking the third-largest shortfall in the last 65 years. Read More »
THE NEXT ECONOMY: COVER STORY

Univision Charts Course for America's Ethnic Future

In a Miami office park, meet the corporate paradigm for success in a demographically evolving nation. Read More »
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