FISCAL BLOG

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.

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Americans and the economy are vulnerable to a series of high-stakes fiscal deadlines, with an uncertain path forward.

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If the president and Congress are unable to come to an agreement on the amount of the budget caps, they will risk either a harmful government shutdown or a potential automatic across-the-board cancellation of budgetary resources.

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This year’s report demonstrates why lawmakers should focus their attention toward improving our nation’s debt path as soon as possible.

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The primary deficit excludes interest payments, thereby measuring the gap between all other spending and total revenues collected.

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The deficit is projected to reach $1 trillion this year, according to the Office of Management and Budget (OMB), which released its annual mid-session review on Friday.

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The words debt and deficit come up frequently in debates and conversations about the policy decisions that lawmakers face. The two concepts are similar, but are often confused.

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The non-partisan Congressional Budget Office (CBO) released its 2019 Long-Term Budget Outlook, highlighting the significant fiscal challenges facing our nation.

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CBO estimates that the national debt would climb from 78 percent of gross domestic product (GDP) in 2018 to 87 percent of GDP by 2029 under the president’s policies.

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The amount spent by the federal government on interest is large and growing. Recent Congressional Budget Office (CBO) projections show that net interest will become the third largest “program” in the budget by 2025.

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Understanding the Coronavirus Crisis

Key fiscal and economic indicators as the nation responds and recovers.

National Debt Clock

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