FISCAL BLOG

There are three widely used measures of federal debt. What are the important differences between these measurements?

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During the week that ended on May 30, 1.9 million people filed for unemployment insurance. That capped off an 11-week period during which a total of 43 million individuals filed a claim.

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As of June 1, 2020, the Treasury has disbursed roughly $17 billion of the total $32 billion allocated to the program.

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The IRS had issued about 150 million direct payments to Americans — totaling nearly $260 billion — to help mitigate the financial burden of the COVID-19 pandemic.

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Before the pandemic, the U.S. economy was in its longest expansion since World War II and had notably low unemployment. The pandemic and the resulting reductions in social and economic activity, however, have altered that trajectory.

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So far, federal measures to support small businesses have amounted to $760 billion.

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COVID-19 has spread to nearly every country in the world, and to help reduce the health risk and save lives, many countries have imposed limitations on business activity, congregating, and traveling.

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U. S. defense spending increased substantially from 2018 to 2019 relative to other countries.

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The outbreak of COVID-19 has become both a public health and an economic crisis. In particular, the closure of many businesses has resulted in an unprecedented surge in unemployment claims in the United States.

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A large decrease in revenues and a large increase in spending have led the Congressional Budget Office to estimate a deficit of $737 billion in April 2020.

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The Fiscal Response to the Coronavirus

Here’s everything Congress has done to respond to the coronavirus so far.

National Debt Clock

See the latest numbers and learn more about the causes of our high and rising debt.