FISCAL BLOG

Income levels for Americans vary across geography, race, and gender.

Spending on children is shrinking as a percent of GDP.

To account for the continuation of current policies, CBO also prepares what is known as an alternative fiscal scenario (AFS), which can be helpful for lawmakers and the general public in understanding a range of potential outcomes.

While Congress has not taken steps toward reining in our high and rising national debt, earlier this summer lawmakers did address a couple of pending fiscal items

As a share of the economy, the national debt is at its highest level since immediately after World War II. Annual deficits are approaching $1 trillion and they are projected to increase with no end in sight.

CBO projects that the deficit for 2019 will be $960 billion. That’s $63 billion (or 7 percent) above its estimate from just three months ago.

Many Americans, young and old, may be confused by the complex set of issues that comprise how the government raises revenues and allocates them.

While there has been positive news about recent wage growth, looking back over the last 40 years reveals a different story for the average worker.

While growth in 2019 has exceeded expectations so far, growth rates largely have conformed to forecasts, and many economists expect growth to remain lower in 2019 than in 2018.

The cost and quality of the U.S. healthcare system is one of the most prominent issues facing everyday Americans. It is a top policy concern for voters, a key indicator of economic efficiency, and a significant driver of the national debt.