FISCAL BLOG

Democratic leaders this week for the first time revealed specific details for how they intend to pay for, or offset, the approximately $3.5 trillion of spending in their reconciliation bill.

Many Americans, young and old, may be confused by the complex set of issues that comprise how the government raises revenues and allocates them.

A key part of the Biden administration’s policy agenda in 2021 relates to our nation’s energy policy, and in particular, there have been important debates among policymakers about how we use the tax code to incentivize economically and environmentally beneficial behavior.

Components of a large legislative package — that could carry a price tag of as much as $3.5 trillion — is now being debated in the House of Representatives.

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

Proposals such as a regulatory restructuring of repayment plans and cancellation of student debt through personal bankruptcy or other means have been offered as reforms to address the growing student debt burden.

The Social Security and Medicare Trustees released their annual reports, which show that these vital programs are on an unsustainable path.

There were 235,000 jobs added in August, lower than expected by economists. However, the unemployment rate remains high, especially for non-white workers. Get the facts here.

The Social Security Trustees note that the Old-Age and Survivors Trust Fund is now expected to become depleted in 2033, compared to 2034 in last year’s report.

Over the next 10 years, the cumulative deficit would total $13.9 trillion if the President’s policies were carried out.