FISCAL BLOG

Unless Congress can set aside partisanship and address our nation’s fiscal challenges, the growing national debt will “seriously jeopardize and undermine the American economy,” according to former Secretary of Defense Leon Panetta.

Federal debt is already at its highest level since 1950 and is projected to climb to 152 percent of GDP under current law by 2048 — by far an all-time high.

Understanding the United States’ changing labor force can be a key part of understanding larger trends in the overall economy. Here are key characteristics of the foreign-born population and how they compare to the native-born population.

While the Tax Cuts and Jobs Act of 2017 will likely boost economic growth in the near term, the effects of the legislation are temporary.

Economists generally agree that public investment in infrastructure has a positive effect on productivity, and therefore on gross domestic product.

The concentration of income toward high earners has become more pronounced over the last 36 years.

CBO reports that the fiscal outlook is dramatically worse than it was last year, primarily due to the fiscally irresponsible tax legislation and budget deal that were enacted within the past few months.

On March 15, 2018 the federal government passed an unfortunate milestone: $21 trillion dollars in gross federal debt.

The Tax Cuts and Jobs Act will lower revenues significantly and made changes to both tax rates and bracket widths.

There are separate limits on the amount of funding that can be provided for defense and nondefense purposes through the appropriation process.