FISCAL BLOG

Revenues in 2018 didn’t even keep up with inflation, much less growth in nominal gross domestic product.

The International Monetary Fund warns that U.S. debt levels pose a risk for future economic growth and fiscal stability.

Trillion-dollar annual deficits not seen since the Great Recession are expected to return as soon as next year.

Corporate tax receipts dropped by 31% in 2018 — an unprecedented decline during a time of economic growth. Explore what's responsible for the plunge.

Outside of the recent recession caused by the financial crisis and its aftermath, the U.S. government has never witnessed deficits that exceeded $1 trillion.

Without income from Social Security, two thirds of the elderly would be considered poor.

Rising costs of prescription drugs and their effect on Medicare could have serious consequences on our healthcare system and our nation's fiscal well-being.

Members of the United States House of Representatives and Senate return to Washington to face a number of important policy decisions and deadlines.

Last year's tax legislation was a key opportunity to simplify the tax code, but the TCJA actually increased the number of tax breaks.

The general consensus among economists is that the long-term effects of the TCJA will be higher debt and little change to underlying economic growth.