FISCAL BLOG

High healthcare spending is not necessarily a bad thing, especially if it leads to better health outcomes. However, that is not the case in the United States.

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The American Rescue Plan included a one-year expansion of the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC). Both programs have proven to be popular and effective in reducing child poverty.

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Our high and rising debt is “a big burden placed on current citizens, based on our past budgetary irresponsibility,” said Michael Peterson, CEO of the Peter G. Peterson Foundation, in a recent appearance on C-SPAN’s Washington Journal.

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Spending on healthcare in the United States has far outpaced other major healthcare systems without yielding better outcomes.

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The rise in healthcare spending was largely driven by the federal response to the COVID-19 pandemic.

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The strong rebound in 2021 was partially due to the high economic growth experienced in the fourth quarter.

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Interest costs on the national debt are expected to rapidly outstrip spending on children in coming years.

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Federal outlays for Unemployment Insurance are rapidly returning to previous levels. Nevertheless, unemployment remains higher than pre-pandemic levels.

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Here are some notable trends showing how lower levels of government have spent some of their relief funds.

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In 2022, America faces key questions about rising inflation, new COVID variants, growing national debt and an uncertain economic recovery. To help shed light on a complex set of factors and indicators, the Peterson Foundation brought together two leading experts for the latest edition of the Economic Forum.

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Expert Views: Inflation, Interest & the National Debt

We asked experts with diverse views from across the political spectrum to share their perspectives.

National Debt Clock

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