FISCAL BLOG

The federal government spent $90 billion on housing assistance in 2021, an increase of almost 70 percent from the preceding year.

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The legislative response to COVID-19 has been an essential part of supporting Americans and the economy through the crisis. However, states are now navigating how to avoid a budget shortfall (sometimes referred to as a “fiscal cliff”) once federal aid wanes.

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The Fed recently announced it will begin reducing the size of its balance sheet this month to combat high inflation and a tight labor market.

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At the end of May, the nonpartisan Congressional Budget Office (CBO) released new projections of the nation’s fiscal and economic outlook, their first report since July 2021.

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Unlike the federal government, which currently records $30 trillion in debt, most state governments have balanced budget requirements (BBRs) for their operating budgets which only permit borrowing for certain capital projects.

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Student debt is one of the biggest challenges young people will face as they prepare to enter adulthood, and is often their first encounter with debt.

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The Social Security and Medicare Trustees released their annual reports, which show that these vital programs are on an unsustainable path.

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Skyrocketing student debt has generated significant discussion about ways to improve the financing of higher education in the United States.

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Driven by rising interest rates and the accumulation of federal debt, interest will nearly triple in the next 10 years and reach a historic high relative to the size of the economy by 2032.

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While this year’s deficit looks much better primarily due to the expiration of pandemic relief programs, CBO projects that the deficit will soon begin to climb again.

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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.