FISCAL BLOG

Monthly Archive for October 2021

Lawmakers in the House and Senate are discussing a range of policies under what’s known as reconciliation. To their credit, they have pledged to offset the cost of the legislation, so that the bill won’t add to the country’s already unsustainable debt and deficits.

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Several federal programs that are governed by trust funds are facing serious funding shortfalls. As a result, such trust funds, including the retirement portion of Social Security, Medicare’s Hospital Insurance Trust Fund, and the Highway Trust Fund, are projected to be exhausted in the near future.

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The federal government has enacted five pieces of legislation that provide relief to individuals and corporations that have been affected by the COVID-19 pandemic. To finance those provisions, the Treasury Department has ramped up its borrowing.

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Housing insecurity is an ongoing issue for millions of American families. COVID-19 and its economic impact exacerbated an existing shortage of affordable housing that far predated the pandemic.

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The possibility of raising the corporate tax rate has spurred a debate among economists and policymakers about the optimal corporate income tax rate to balance revenue generation and U.S. competitiveness.

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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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What Does the Debt Mean for Our Future?

We all have a responsibility to build a brighter fiscal and economic future for the next generation.

National Debt Clock

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