FISCAL BLOG

As part of a potential deal to raise the debt ceiling, policymakers are considering rescinding remaining funding for COVID-19 relief.

SNAP is the largest federal program aimed at combating hunger and food insecurity among low-income Americans.

The Federal Reserve plays an important role in stabilizing the country’s economy.

Programs that millions of Americans depend on and care about may be feeling a squeeze from interest costs on our high and rising national debt.

The Congressional Budget Office (CBO) released updated budget and economic projections, which incorporate the effects of higher interest rates, annual appropriations, and other recent legislative and economic developments.

The recent volatility in interest rates show that breaching the debt ceiling could make federal borrowing much more expensive.

At the end of 2022, the nation’s gross debt had reached $31.4 trillion dollars.

The depletion dates for Social Security’s Old-Age and Survivors Insurance (OASI) Trust Fund and Medicare’s Hospital Insurance (HI) Trust Fund have been relatively well known for the past 20 years and are now rapidly approaching.

The fiscal path of the U.S. government is currently unsustainable because the ratio of debt held by the public as a percent of GDP is rising.

Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world in 2022.