The House and Senate return from August break today with their work cut out for them on the fiscal front. While the issues are serious, unfortunately there’s not much time to act. Whether it’s finding consensus on a $90 billion budget gap before the end of the fiscal year, or next month’s looming debt ceiling debate, these challenges are urgent and demand leadership.
To welcome back the reconvening Congress, and highlight these critical challenges, the Peterson Foundation presents a fiscally-focused infographic that illustrates what’s at stake this fall. We’re sharing it to encourage Congress and the President to put a plan in place that protects America’s economic recovery, and also stabilizes our long-term national debt.
Further Reading
What Is Fiscal Dominance?
Fiscal dominance occurs when the national debt — and especially high interest costs — forces the hand of monetary policymakers.
How Does Labor Supply Impact the Fiscal Outlook?
Labor supply plays a central role in the United States’ fiscal outlook and currently stands at a turning point.
The Fed Held Its Target Range For the Fifth Meeting in a Row but Interest Costs Remain High
High interest rates on U.S. Treasury securities increase the federal government’s borrowing costs.