FISCAL BLOG

Spending on children is shrinking as a percent of GDP.

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The first piece in our series on the effectiveness of the fiscal response to the coronavirus pandemic, will take a look at how the government’s response to the pandemic affected the nation’s economy.

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Here are five key takeaways from CBO’s latest projections that show the path of federal revenues, spending, and debt through 2050.

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The coronavirus (COVID-19) pandemic has contributed to a significant budget crunch at the state level that threatens a range of basic government programs and services. Some states were better prepared than others to handle this crisis.

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The Federal Reserve’s lending facilities are one of the many policy tools the central bank is using to stabilize the economy in response to the coronavirus (COVID-19) pandemic.

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Today, the non-partisan Congressional Budget Office (CBO) released its baseline budget projections for the next decade – its first analysis to fully take into account the economic effects of the coronavirus (COVID-19) pandemic and the legislative response to it.

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The coronavirus (COVID-19) pandemic has exposed major U.S. healthcare issues from lack of preparedness to inequities in impact and access, but key lessons can help improve the system going forward, according to two leading experts.

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Tax breaks totaled nearly $1.5 trillion in 2019. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare.

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Over the weekend President Trump signed executive actions related to unemployment insurance, payroll tax relief, student debt, and housing evictions.

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The International Monetary Fund (IMF) estimates that real (inflation-adjusted) gross domestic product (GDP) in the United States will fall by 8 percent in 2020, according to the latest update to their World Economic Outlook report.

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What Does the Debt Mean for Our Future?

We all have a responsibility to build a brighter fiscal and economic future for the next generation.

National Debt Clock

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