House Tax Bill Adds $1.7 Trillion to Deficits When You Include Interest
The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
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The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
Powell noted that the current economic expansion is the longest on record and emphasized the need to consider the long-term implications of fiscal policy.
On March 15, 2018 the federal government passed an unfortunate milestone: $21 trillion dollars in gross federal debt.
https://www.pgpf.org/blog/2018/04/the-national-debt-grew-by-1-trillion-in-just-six-months
PGPF has released a new infographic that illustrates the results from this year's Solutions Initiative III project on stabilizing our long-term fiscal outlook.
https://www.pgpf.org/blog/new-pgpf-infographic-solutions-do-exist
Unless addressed soon, the growing national debt will "seriously jeopardize and undermine the American economy," said former Secretary of Defense Leon Panetta.
Social Security is the largest single federal program, and accounts for approximately one quarter of all federal spending.
https://www.pgpf.org/blog/celebrating-social-securitys-80th-anniversary
Since March 15, more than 65 million claims for regular unemployment insurance have been filed due to COVID-19. Find weekly updated statistics here.
The pandemic exposed major U.S. healthcare issues, but key lessons can help improve the system going forward, according to two leading experts.
The IMF raises concerns that progress on important fiscal issues is being hampered by political dysfunction in Washington.
The latest OMB report marks the first time that the administration has acknowledged that deficits will surpass $1 trillion in the near term.
https://www.pgpf.org/blog/2018/07/trump-administration-acknowledges-trillion-dollar-deficits