FISCAL BLOG

On November 10, 2023, Moody’s Investors Service lowered its outlook on the United States’ credit rating from “stable” to “negative.”

Average income among households in the lowest fifth of the income distribution was $21,900, while income for households in the highest fifth averaged $357,800.

High healthcare spending is not necessarily a bad thing, especially if it leads to better health outcomes. However, that is not the case in the United States.

Tax breaks totaled over $1.8 trillion in 2023. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare and Medicaid.

A new paper from Manhattan Institute’s Brian Riedl examines ways to raise revenue from high-income Americans.

CBO now expects interest rates over the next two years to be higher than previously anticipated, according to new data released on December 15.

Interest costs on the national debt are expected to rapidly outstrip spending on children in coming years.

There have been a number of proposals to increase, eliminate, or otherwise adjust the payroll tax cap as a way to shore up Social Security’s finances.

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

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