FISCAL BLOG

The decline in the unemployment rate from July to August results from a decrease in the number of unemployed individuals from 16.3 million to 13.6 million.

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In August, the federal government spent $9.3 billion on SNAP — which is 76 percent higher than the amount spent in March.

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Here are five key takeaways from CBO’s latest projections that show the path of federal revenues, spending, and debt through 2050.

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A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.

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The Internal Revenue Service (IRS) had issued 159 million direct payments to Americans — totaling nearly $267 billion — to help mitigate the financial burden of the COVID-19 pandemic.

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The Social Security Board of Trustees has been warning for years that the program faces funding shortfalls. In April, they released their annual report on the trust funds that finance the program.

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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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During the week that ended on September 5, 884,000 people filed for regular unemployment insurance, continuing a devastating trend in the labor market. Since March 15, 60 million individuals have filed a claim.

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The coronavirus (COVID-19) pandemic has contributed to a significant budget crunch at the state level that threatens a range of basic government programs and services. Some states were better prepared than others to handle this crisis.

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The Federal Reserve’s lending facilities are one of the many policy tools the central bank is using to stabilize the economy in response to the coronavirus (COVID-19) pandemic.

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Understanding the Coronavirus Crisis

Key fiscal and economic indicators as the nation responds and recovers.

National Debt Clock

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