FISCAL BLOG

One of the most fundamental responsibilities of the federal government is to set and pass a budget every year, allocating funding towards the nation’s needs and priorities.

The amount of defense spending in the United States dwarfs that of other nations — we spend more on defense than the next 9 countries combined.

The federal deficit is projected to be over $1 trillion each year for the next 10 years.

Social Security is the primary source of government-funded retirement support in the United States.

The enactment of the Inflation Reduction Act is a promising step forward in our nation’s fiscal situation seriously.

Social Security has been a cornerstone of economic security for almost 90 years, but the program is on unsound footing.

To illuminate what the latest economic indicators mean, connect the dots, and discuss how CBO analysis helps policymakers, CBO Director Phillip Swagel joined Peterson Foundation CEO Michael Peterson for the latest Economic Forum.

Today, the nonpartisan Congressional Budget Office (CBO) released its Long-Term Budget Outlook, which offers a look at the nation’s fiscal health through 2052.

Despite higher healthcare spending, America’s health outcomes are not any better than those in other developed countries.

On the whole, the average retirement age has risen by 3 years since 1990, increasing from 62 to 65. Women, on average, tend to retire earlier than men, but women have seen a larger increase in average retirement age.