FISCAL BLOG

Today, the Social Security and Medicare Trustees released their annual reports on the programs’ financing, showing that the future of these vital programs remain at risk.

Without reform, Medicare spending will continue to rise over the coming years — threatening the HI Trust Fund and placing immense pressure on the federal budget.

Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.

Healthcare costs are notoriously high in the United States, and the price of prescription drugs is a big reason why.

Here we analyze the extent to which more funding impacts tax compliance, the tax gap, and federal revenues.

The Biden Administration released its budget for FY 2024, calling for a reduction in federal deficits by $2.9 trillion over the next decade.

Tax breaks totaled over $1.7 trillion in 2022. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare.

Responsible fiscal policy can play an important complementary role to monetary policy in helping to moderate inflation.

Earlier this year, the United States once again hit its debt ceiling, which is currently capped at $31.4 trillion.