FISCAL BLOG

Monthly Archive for June 2022

Last year, lawmakers in the House introduced the Improving Medicare Coverage Act in an effort to make healthcare more affordable for older Americans by lowering the age of eligibility for Medicare from 65 to 60.

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The federal government spent $90 billion on housing assistance in 2021, an increase of almost 70 percent from the preceding year, largely due to legislation enacted in response to the coronavirus (COVID-19) pandemic.

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The legislative response to COVID-19 has been an essential part of supporting Americans and the economy through the crisis. However, states are now navigating how to avoid a budget shortfall (sometimes referred to as a “fiscal cliff”) once federal aid wanes.

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Since the coronavirus (COVID-19) pandemic began, the U.S. Federal Reserve has significantly ramped up its holdings of Treasury securities as part of a broader effort to counteract the economic impact of the public health emergency.

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The primary deficit focuses on the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.

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At the end of May, the nonpartisan Congressional Budget Office (CBO) released new projections of the nation’s fiscal and economic outlook, their first report since July 2021.

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Programs that millions of Americans depend on and care about may be feeling a squeeze from interest costs on our high and rising national debt.

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Unlike the federal government, which currently records $30 trillion in debt, most state governments have balanced budget requirements (BBRs) for their operating budgets which only permit borrowing for certain capital projects.

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Student debt is one of the biggest challenges young people will face as they prepare to enter adulthood, and is often their first encounter with debt.

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The depletion dates for Social Security’s Old-Age and Survivors Insurance (OASI) Trust Fund and Medicare’s Hospital Insurance (HI) Trust Fund have been relatively well known for the past 20 years and are now rapidly approaching.

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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.