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One key component of the $1.9 trillion package is an estimated $362 billion in federal aid to state, local, territorial, and tribal governments to cover expenditures incurred due to the public health emergency.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the latest data for Fiscal Year 2020, charted out monthly and on a year-over-year basis.
Historically, debt and deficits rose with wars and economic downturns. Today, they rise from factors such as growing healthcare costs and an aging population.
Debt rises and falls with wars and changes in the economy. Debt is currently at its highest level since 1946.
On March 31, 2021, President Biden released details for a proposed American Jobs Plan — a nearly $2.7 trillion package aimed at addressing a range of issues, including transportation and other infrastructure, climate change, caregiving, and housing.
The national debt is on an unsustainable path.
https://www.pgpf.org/chart-archive/0202_federal-debt-proj-since-1930
New $1 million research initiative will help inform and improve pandemic relief and recovery policies.
The PGPF chart pack illustrates that budget-making involves many competing priorities, limited resources, and complex issues.