FISCAL BLOG

Karen Dynan explores the implications of the federal debt burden and the degree of change required to stabilize the national debt.

While this budget would be a step in the right direction, it does not adequately address the underlying structural imbalance that defines our fiscal outlook.

The Treasury projects that debt as a percentage of GDP will grow to more than five times the size of the U.S. economy in the next 75 years.

The United States lost an estimated $1.8 trillion in revenues through tax expenditures in 2023.

In 2017, Congress and the President enacted the Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations.

One of the most fundamental responsibilities of the federal government is to set and pass a budget every year, allocating funding towards the nation’s needs and priorities.

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

A group of respected policy experts share their views on how a bipartisan fiscal commission could help break the cycle of governing by crisis.

The words debt and deficit come up frequently in debates about the policy decisions that lawmakers face. The two concepts are similar, but are often confused.

Federal Reserve Chair Jerome Powell, speaking in an interview, said that now is the time to start addressing our $34 trillion and rising national debt.