FISCAL BLOG

Debt held by the public would reach record levels relative to the size of the economy within the next two decades, and possibly as soon as 2032 — just 13 years from now.

Tax breaks totaled nearly $1.5 trillion in 2018. To put that in perspective, that’s more than the government spends on Social Security, Medicare, or defense.

Some lawmakers favor substantial increases to marginal tax rates. Let’s look at how marginal tax rates and brackets work.

Lower levels of debt allow governments to respond more effectively to a recession or financial crisis.

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 U.S.

Although the budget would achieve some deficit reduction on paper under the administration’s calculations, it fails to address the key drivers of our long-term debt and relies on overly-optimistic assumptions for economic growth.

The 50 U.S. states pull in over $2 trillion in revenue each year and, along with local governments, employ nearly 20 million people. A new report sheds light on budgets at the state level, grading performance and identifying best practices for improvement.

It may be counterintuitive, but government shutdowns are expensive. They are also bad for the economy.

A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.

Despite a growing economy and low unemployment, federal budget deficits are projected to grow over the next 10 years.