Breaking Down the Coronavirus Relief Spending — How Much Direct Aid Has Gone Out the Door So Far?
Policymakers have authorized an estimated $3.6 trillion in federal spending to help counter the economic effects of the coronavirus pandemic.
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Policymakers have authorized an estimated $3.6 trillion in federal spending to help counter the economic effects of the coronavirus pandemic.
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.
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
It’s important for lawmakers to consider the many available policy options for improving that outlook.
https://www.pgpf.org/blog/2021/01/83-ways-we-can-reduce-the-deficit-according-to-cbo
CBO projects that the deficit for 2019 will be $960 billion. That’s $63 billion (or 7 percent) above its estimate from just three months ago.
Under current law, the U.S. budget deficit will exceed $1 trillion each year beginning in 2022 and total $11.4 trillion over the upcoming decade.
The CBO released new baseline projections today, which show that the nation will face daunting fiscal challenges over the next decade resulting from the existing structural mismatch between revenues and outlays as well as the enormous amount of borrowing necessary to address the pandemic and its economic effects.
Two of America’s top economists said Monday that while the U.S. faces a complex mix of fiscal and economic challenges, they don’t see an immediate threat of recession.
In fiscal year 2020, the U.S. saw the largest budget deficit since 1945 at $3.1 trillion. Find out what contributed to these record-breaking stats.
The budget would achieve some deficit reduction on paper under the administration's calculations, but it fails to address the key drivers of our debt.