FISCAL BLOG

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.

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.

The Fed recently announced it will begin reducing the size of its balance sheet this month to combat high inflation and a tight labor market.

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.

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.

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.

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

Skyrocketing student debt has generated significant discussion about ways to improve the financing of higher education in the United States.