FISCAL BLOG

The Congressional Budget Office (CBO) released updated budget and economic projections, which incorporate the effects of higher interest rates, annual appropriations, and other recent legislative and economic developments.

The recent volatility in interest rates show that breaching the debt ceiling could make federal borrowing much more expensive.

The nation’s high and rising levels of debt can affect economic growth and pose a number of risks.

The depletion dates for Social Security and Medicare’s Trust Funds are rapidly approaching.

The percentage of income that Americans pay in taxes can vary widely and depend on many factors.

Compared to historical trends and other advanced economies, corporate tax revenues in the United States are low.

Many options exist to reduce the imbalance between spending and revenues, including additional taxes on wealthier Americans.

Healthcare spending in the United States totaled 18.3 percent of gross domestic product (GDP) in 2021.

The United States has one of the most expensive health systems in the world.

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.