FISCAL BLOG

The rising national debt carries substantial costs today and poses an even greater toll on America’s future.

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U.S. defense spending increased substantially from 2019 to 2020 relative to other countries.

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Understanding the United States’ changing labor force can be a key part of understanding larger trends in the overall economy. Here are key characteristics of the foreign-born population and how they compare to the native-born population.

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A key provision of the ARP advances half of the expected credit for 2021 in periodic payments, which have now begun.

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Adjustments to the U.S. corporate income tax system could influence the level of domestic investment, economic growth, and hiring; such adjustments would also alter the amount of revenues collected by the federal government, which would have an effect on the nation’s fiscal outlook.

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While the United States does not currently have a nationwide free college program, a number of such initiatives have been proposed in the past few years.

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Even if Congress raises the debt limit and avoids default, last-minute brinksmanship alone has the potential to create economic damage.

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President Biden’s budget for fiscal year 2022 outlines new details of the American Families Plan (AFP), a $1.7 trillion package including major new investments in education, childcare, healthcare, and family leave.

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The coronavirus (COVID-19) pandemic has caused federal spending on Medicaid to rise sharply as millions of Americans seek benefits under the program.

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The deduction of state and local tax payments (known as SALT) from federal income taxes has been a subject of debate among economists and policymakers over the past few years — with significant implications for our budget and fiscal outlook.

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What Does the Debt Mean for Our Future?

We all have a responsibility to build a brighter fiscal and economic future for the next generation.

National Debt Clock

See the latest numbers and learn more about the causes of our high and rising debt.