There’s no doubt America’s fiscal problems are serious and significant, but CBO’s assortment of options offers lawmakers a deep playbook of spending and revenue changes that would put us on a better path.
There have been a number of proposals to increase, eliminate, or otherwise adjust the payroll tax cap as a way to shore up Social Security’s finances.
High healthcare spending is not necessarily a bad thing, especially if it leads to better health outcomes. However, that is not the case in the United States.
Even if Congress raises the debt limit and avoids default, last-minute brinksmanship alone has the potential to create economic damage.
As the U.S. reaches its debt ceiling, the Department of the Treasury is now using “extraordinary measures” to keep the federal government from defaulting on its debts.
As the largest program in the federal budget, Social Security is a critical part of our nation’s fiscal picture and vital to millions of elderly recipients.
A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.
Interest rates on Treasury securities are rising faster than most economists anticipated earlier in the year, with potentially serious consequences for the nation’s fiscal position.
The treatment of carried interest continues to be one of the most controversial elements of the U.S. tax code.
Average income among households in the lowest fifth of the income distribution was $23,800, while income for households in the highest fifth averaged $332,100.