FISCAL BLOG

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.

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

Since the shutdown began, about 800,000 federal employees have been furloughed or are working without pay.

Budget process rules like PAYGO help ensure that fiscal considerations are an important part of policymaking.

The 116th Congress also marks a return to divided government with the Senate controlled by Republicans and the House by Democrats. This new landscape in Washington means there is both a requirement and a valuable opportunity for lawmakers to work together on fiscal solutions.

Although a return to a normalized interest environment is a good sign for the overall strength of the economy, rate increases will make it more expensive for families and the government to borrow.

The federal deficit is growing during a period of economic expansion — a pattern that is highly unusual.

It’s important for lawmakers to consider the many available policy options for improving that outlook.

The decline in purchasing power has important implications for the federal budget and our nation’s infrastructure, and has led some to call for a new effort to address the gas tax.