FISCAL BLOG

Monthly Archive for August 2020

The coronavirus (COVID-19) pandemic has exposed major U.S. healthcare issues from lack of preparedness to inequities in impact and access, but key lessons can help improve the system going forward, according to two leading experts.

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The federal government has enacted four pieces of legislation that provide important relief to individuals and corporations that have been impacted by the COVID-19 pandemic.

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The coronavirus (COVID-19) pandemic has caused federal spending on Medicaid to rise sharply as millions of Americans seek benefits under the program.

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In July, the federal government spent $10.2 billion on SNAP — a 94 percent increase from the amount spent in March.

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Tax breaks totaled nearly $1.5 trillion in 2019. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare.

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Over the weekend President Trump signed executive actions related to unemployment insurance, payroll tax relief, student debt, and housing evictions.

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After the unemployment rate shot up from 4.4 percent in March to 14.7 percent in April, it has subsequently dropped to 10.2 percent in July.

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The International Monetary Fund (IMF) estimates that real (inflation-adjusted) gross domestic product (GDP) in the United States will fall by 8 percent in 2020, according to the latest update to their World Economic Outlook report.

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To date, the Paycheck Protection Program (PPP) has disbursed over $500 billion in loans to 5 million businesses, making it the largest component of the U.S.’ legislative response to the coronavirus pandemic. But has it been effective?

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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.