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To date, policymakers have authorized an estimated $3.6 trillion in federal spending (the budgetary cost of which is only $2.4 trillion) to help counter the economic effects of the coronavirus (COVID-19) pandemic.
Overall, coronavirus relief legislation is expected to widen the gap between federal outlays and revenues — increasing federal deficits by $2.4 trillion over the next decade.
The latest Financial Times-Peterson Foundation US Economic Monitor, released on July 7, 2020, reveals timely data about Americans’ deep concerns about the health and economic effects of the coronavirus (COVID-19) pandemic.
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
The Federal Reserve owns one quarter of domestically held debt.
https://www.pgpf.org/chart-archive/0312_domestic_debt_holders
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for May 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-may-2020
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for June 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-june-2020