FISCAL BLOG

Today, the Federal Reserve announced an increase in the target for the federal funds rate, the interest rate at which commercial banks lend to each other overnight.

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The federal government has enacted five pieces of legislation that provide relief to individuals and corporations that have been affected by the COVID-19 pandemic. To finance those provisions, the Treasury Department has ramped up its borrowing.

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

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Currently, more Americans owe a greater average amount of student debt than at any time in U.S. history.

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Unemployment Insurance can be a critical government tool to ease suffering from economic downturns and hasten a recovery.

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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.

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The American Rescue Plan included a one-year expansion of the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC). Both programs have proven to be popular and effective in reducing child poverty.

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Our high and rising debt is “a big burden placed on current citizens, based on our past budgetary irresponsibility,” said Michael Peterson, CEO of the Peter G. Peterson Foundation, in a recent appearance on C-SPAN’s Washington Journal.

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Spending on healthcare in the United States has far outpaced other major healthcare systems without yielding better outcomes.

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The rise in healthcare spending was largely driven by the federal response to the COVID-19 pandemic.

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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.