Does Fiscal Policy History Rhyme?
Gridlock "means ever rising debt as a share of GDP, the prospect of economic turmoil, and lower living standards than otherwise for our children and grandchildren," writes G. William Hoagland.
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Gridlock "means ever rising debt as a share of GDP, the prospect of economic turmoil, and lower living standards than otherwise for our children and grandchildren," writes G. William Hoagland.
"Even as both parties dream of sweeping the next election and imposing their own solution, the reality is that massive deficit reduction legislation requires bipartisan buy-in for public legitimacy and political sustainability," writes Brian Riedl.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for November 2022.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-november-2022
Unemployment insurance (UI) is a joint state-federal program that was established in 1935 to provide temporary financial assistance to workers who become unemployed by no fault of their own.
https://www.pgpf.org/budget-basics/budget-basics-unemployment-insurance-explained
Strengthened automatic fiscal stabilizers would enable fiscal stimulus to arrive in a more predictable and efficient manner.
Inflation’s legacy of higher real interest rates poses a significant danger to the federal budget.
High inflation breeds instability, raising the risk of both higher interest rates and recession.
“This month’s improvement in the index makes it clear that voters want leaders who will improve America’s fiscal and economic future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/08/fci-press-release
As the national debt surpasses $30 trillion, voter confidence in America’s financial situation and budget outlook tied a 7-year low, according to the Peter G. Peterson Foundation’s newest monthly index.
https://www.pgpf.org/press-release/2022/01/fci-press-release
The projected shortfall of future Social Security revenues is the result of political action, not the absence of policy options for addressing this issue.