Infographic: President Biden and Congress Face a Range of Complex and Urgent Policy Issues
Last Updated January 19, 2021
Defeating COVID-19 and putting our economy on a path to recovery continue to be the most pressing priorities for our nation. At the same time, our fiscal outlook has worsened considerably — and once the pandemic is over, lawmakers will need to return to managing our historically high national debt. Below is a look at the fiscal and economic landscape that policymakers will inherit.
Further Reading
United States Is Borrowing at a Higher Rate than the Global Average, Warns IMF
New IMF reports serve as a warning to all countries that global fiscal and economic conditions are veering into dangerous territory.
News from the Quarterly Treasury Refunding Statement
As borrowing has risen, the Treasury has generally been increasing the proportion of bills (maturity of one year or less) in its portfolio of marketable securities.
Moody’s Downgrade of U.S. Credit Rating Highlights Risks of Rising National Debt
For the first time ever, all three major credit ratings agencies have downgraded U.S. credit below their top rating.