In around six years, the national debt will likely exceed its all-time high of 106 percent of gross domestic product (GDP), which occurred in 1946.
It may be counterintuitive, but government shutdowns are expensive. They are also bad for the economy.
CBO now expects that 3-month interest rates will peak at around 5.3 percent this year and only fall to 3.2 percent by the end of 2025.
Rising inflation usually prompts higher interest rates, which in turn boost interest paid on the federal debt and thereby increase annual deficits.
The Children's Health Insurance Program is a key piece of the social safety net and is aiding in the economic recovery.
Fitch Ratings recently downgraded the U.S. long-term credit rating from its top mark of AAA to AA+.
Unless lawmakers act, Social Security beneficiaries could soon see significant cuts in benefits.
Healthcare in the United States is very expensive — but we don’t get what we pay for.
Social Security is an integral part of the nation’s fiscal picture and a vital economic lifeline for millions of recipients.
In 2021, health spending in the United States totaled $4.3 trillion and averaged nearly $13,000 per person.
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