The Coronavirus Caused the Deficit to Balloon in April — Usually a Surplus Month
A large decrease in revenues and a large increase in spending have led the Congressional Budget Office to estimate a deficit of $737 billion in April 2020.
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A large decrease in revenues and a large increase in spending have led the Congressional Budget Office to estimate a deficit of $737 billion in April 2020.
Recent news stories have highlighted the good news that very near-term deficits are decreasing. That good news, unfortunately, will be short-lived.
https://www.pgpf.org/blog/2014/02/good-news-about-improving-deficits-will-be-short-lived
These charts illustrate some of the biggest fiscal policy stories from 2017.
https://www.pgpf.org/blog/2017/12/ten-charts-that-sum-up-this-year-in-fiscal-news
The U.S. is experiencing an unusual and concerning phenomenon — the annual deficit is high even though the unemployment rate is low.
https://www.pgpf.org/blog/2023/12/why-is-the-federal-deficit-high-if-unemployment-is-low
The United States lost an estimated $1.8 trillion in revenues through tax expenditures in 2023.
https://www.pgpf.org/blog/2024/03/6-key-charts-on-tax-breaks
There’s no doubt America’s fiscal problems are serious and significant, but CBO’s assortment of options offers lawmakers a deep playbook of spending and revenue changes that would put us on a better path.
https://www.pgpf.org/blog/2023/02/76-options-to-reduce-the-federal-deficit
Our most popular charts from 2016 illustrate the nation's fiscal challenges in areas like defense spending, healthcare, and tax reform.
https://www.pgpf.org/blog/2016/12/top-7-fiscal-charts-from-2016
On November 10, 2023, Moody’s Investors Service lowered its outlook on the United States’ credit rating from “stable” to “negative.”
Significant damage was done to America’s fiscal outlook over the past year.
Over the last four decades, federal grants to state and local governments have made up about 17 percent of their total revenues.