FISCAL BLOG

New data from the Bureau of Labor Statistics show that the labor market experienced an unexpected improvement in May.

There are three widely used measures of federal debt. What are the important differences between these measurements?

Before the pandemic, the U.S. economy was in its longest expansion since World War II and had notably low unemployment. The pandemic and the resulting reductions in social and economic activity, however, have altered that trajectory.

COVID-19 has spread to nearly every country in the world, and to help reduce the health risk and save lives, many countries have imposed limitations on business activity, congregating, and traveling.

U.S. defense spending increased substantially from 2018 to 2019 relative to other countries.

A large decrease in revenues and a large increase in spending have led the Congressional Budget Office to estimate a deficit of $737 billion in April 2020.

In response to the COVID-19 pandemic, elected leaders have asked the American people to stay at home and have forced businesses to close to mitigate the spread of the virus.

The decrease in GDP in the first quarter was driven by a decline in consumption and investment.

The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.

Social Security and Medicare are facing serious financial difficulty in the near future.