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Without federal intervention, many services could be drastically reduced to meet balanced budget requirements.
“America’s top policy priority right now is defeating this virus and helping the millions of Americans who are suffering economically, but as we look ahead it’s clear that Americans are growing more concerned about how we will deal with our national debt once this crisis ends.” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2020/06/fci-press-release
Modeled after the Consumer Confidence Index, the Fiscal Confidence Index is a national survey that measures public opinion about the national debt.
Federal trust funds bear little resemblance to their private-sector counterparts.
https://www.pgpf.org/budget-basics/budget-explainer-what-are-federal-trust-funds
In May, the federal government spent $8.6 billion on SNAP — a 62 percent increase from the amount spent just two months before.
https://www.pgpf.org/blog/2020/06/how-has-the-coronavirus-pandemic-affected-federal-spending-on-snap
The outbreak of COVID-19 has become both a public health and an economic crisis. In particular, the closure of many businesses has resulted in an unprecedented surge in unemployment claims in the United States.
As of June 9, 2020, the Treasury has disbursed roughly $147 billion, or about 98 percent, of the total $150 billion allocated in the Coronavirus Relief Fund.
https://www.pgpf.org/blog/2020/06/what-is-the-coronavirus-relief-fund-how-much-is-left-in-it
The economic disruption caused by the coronavirus pandemic and the federal government’s response to it has widened the gap between federal outlays and revenues.
https://www.pgpf.org/blog/2020/06/the-gap-between-federal-spending-and-revenues-has-grown-rapidly
Although the debt affects each of us, it may be difficult to put such a large number into perspective and fully understand its implications.
https://www.pgpf.org/infographic/the-national-debt-is-now-more-than-26-trillion-what-does-that-mean
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the latest data for Fiscal Year 2019, charted out monthly and on a year-over-year basis.