Recent Economic Projections Show Higher Short-term Interest Rates
CBO now expects that 3-month interest rates will peak at around 5.3 percent this year and only fall to 3.2 percent by the end of 2025.
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CBO now expects that 3-month interest rates will peak at around 5.3 percent this year and only fall to 3.2 percent by the end of 2025.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for July 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-July-2023
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for August 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-August-2023
“Our high and rising national debt is a pressing issue for the future of the nation, and the August recess presents an opportunity for a conversation between lawmakers and constituents about solutions,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/07/fci-press-release
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Interest rates on U.S. Treasury securities have a significant influence on federal borrowing costs.
https://www.pgpf.org/blog/2023/07/higher-interest-rates-could-cause-the-national-debt-to-skyrocket
Many Americans, young and old, may be confused by the complex set of issues that comprise how the government raises revenues and allocates them.
https://www.pgpf.org/blog/2023/06/what-is-fiscal-policy-interactive-teaching-tools
“Voters understand the urgency of our fiscal challenges, and that’s why they want lawmakers to take concrete steps to secure our future,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/06/fci-press-release
Increasing the debt ceiling allows the Treasury to borrow funds to pay for government obligations that have already been incurred as the result of laws and budgets approved by the President and Congress.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for April 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-april-2023