FISCAL BLOG

Recent research has found that Social Security is more effective at reducing poverty than previously believed. Without income from Social Security, two thirds of the elderly would be considered poor.

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The rising costs of prescription drugs and their effect on Medicare could have serious consequences on our healthcare system and our nation’s long-term fiscal well-being.

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As summer turns to fall, members of the United States House of Representatives and Senate return to Washington D.C. to face a number of important policy decisions and deadlines.

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The number one financial worry for Americans is having enough money for retirement — and for good reason.

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Last year’s tax legislation was a key opportunity to simplify the tax code, but in addition to adding significantly to our national debt, the Tax Cuts and Jobs Act actually increased the number of tax breaks.

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The general consensus among economists is that the long-term effects of the TCJA will be higher debt and little change to underlying economic growth.

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The OMB released its mid-session review, an annual update and revision of White House budget projections. This report marked the first time that the administration has acknowledged that deficits will surpass $1 trillion in the near term — a level that should be a wake-up call to all Americans.

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Young college graduates today are entering the workforce with an unprecedented amount of student debt. How does student debt relate to the economic outlook for younger Americans and the finances of the U.S. government?

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Unless Congress can set aside partisanship and address our nation’s fiscal challenges, the growing national debt will “seriously jeopardize and undermine the American economy,” according to former Secretary of Defense Leon Panetta.

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Federal debt is already at its highest level since 1950 and is projected to climb to 152 percent of GDP under current law by 2048 — by far an all-time high.

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Voters' Fiscal Guide 2020

Your fiscal and economic headquarters for the 2020 election.

National Debt Clock

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