A wealth tax would impose a levy on assets owned by an individual or household — as opposed to, for example, an income tax.
Medicare is an essential federal program that provides health insurance to millions of older Americans.
Governance issues can harm the U.S. economy as well as decrease the country’s standing in financial markets, which has implications for interest costs and the nation’s fiscal sustainability.
Voters are calling on their leaders to take concrete actions to put us on a better fiscal path.
According to the official poverty measure of the U.S. Census Bureau, 37.9 million people lived in poverty in 2022.
The 12 annual appropriation bills are a key part of the annual budget process that lawmakers must enact to keep the government functioning regularly.
In around six years, the national debt will likely exceed its all-time high of 106 percent of gross domestic product (GDP), which occurred in 1946.
It may be counterintuitive, but government shutdowns are expensive. They are also bad for the economy.
CBO now expects that 3-month interest rates will peak at around 5.3 percent this year and only fall to 3.2 percent by the end of 2025.
Rising inflation usually prompts higher interest rates, which in turn boost interest paid on the federal debt and thereby increase annual deficits.
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