FISCAL BLOG

The coronavirus (COVID-19) pandemic has contributed to a significant budget crunch at the state level that threatens a range of basic government programs and services. Some states were better prepared than others to handle this crisis.

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The Federal Reserve’s lending facilities are one of the many policy tools the central bank is using to stabilize the economy in response to the coronavirus (COVID-19) pandemic.

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Today, the non-partisan Congressional Budget Office (CBO) released its baseline budget projections for the next decade – its first analysis to fully take into account the economic effects of the coronavirus (COVID-19) pandemic and the legislative response to it.

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The coronavirus (COVID-19) pandemic has exposed major U.S. healthcare issues from lack of preparedness to inequities in impact and access, but key lessons can help improve the system going forward, according to two leading experts.

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Tax breaks totaled nearly $1.5 trillion in 2019. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare.

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Over the weekend President Trump signed executive actions related to unemployment insurance, payroll tax relief, student debt, and housing evictions.

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The International Monetary Fund (IMF) estimates that real (inflation-adjusted) gross domestic product (GDP) in the United States will fall by 8 percent in 2020, according to the latest update to their World Economic Outlook report.

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To date, the Paycheck Protection Program (PPP) has disbursed over $500 billion in loans to 5 million businesses, making it the largest component of the U.S.’ legislative response to the coronavirus pandemic. But has it been effective?

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New economic growth statistics from the Bureau of Economic Analysis (BEA) confirm that the American economy continues to suffer historic damage during the coronavirus pandemic.

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The federal government spent $51 billion on housing assistance in 2019, and more than 80 percent of that spending was for three programs in the Department of Housing and Urban Development that provide rental assistance to low-income households.

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Understanding the Coronavirus Crisis

Key fiscal and economic indicators as the nation responds and recovers.

National Debt Clock

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