FISCAL BLOG

The end of 2023 marks another year that the country has failed to improve its daunting fiscal outlook.

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In FY23 the federal government officially incurred a budget deficit of $1.7 trillion — about $320 billion higher than last year's amount.

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The U.S. is experiencing an unusual and concerning phenomenon — the annual deficit is high even though the unemployment rate is low.

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

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Fiscal year 2024 has already begun and lawmakers will need to find a permanent solution to continue funding government activities beyond the expiration of the CRs.

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The Farm Bill provides an opportunity for policymakers to comprehensively address agricultural, food, conservation, and other issues.

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The last time Congress passed all appropriation bills on time was for fiscal year 1997, 27 years ago.

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Cracking down on the tax gap would not only introduce more fairness into the system, but it could be a big help for our nation’s fiscal imbalance.

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We asked 10 respected policy experts from across the ideological spectrum to share their views on a fiscal commission. Here are the key takeaways.

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Income levels for Americans vary across geography, race, and gender.

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Expert Views: Fiscal Commission

We asked experts with diverse views from across the political spectrum to share their perspectives.

National Debt Clock

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