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These charts illustrate some of the biggest fiscal policy stories from 2017.
https://www.pgpf.org/blog/2017/12/ten-charts-that-sum-up-this-year-in-fiscal-news
In her final press conference as chair of the Federal Reserve, Janet Yellen said that she was “personally concerned about the U.S. debt situation” and how it may limit the government’s ability to respond to future recessions.
Independent analyses agree unanimously that either bill would add significantly to the growing national debt.
https://www.pgpf.org/blog/2017/12/poll-voters-say-that-tax-reform-shouldn%E2%80%99t-grow-the-debt
The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.
https://www.pgpf.org/blog/2017/10/federal-budget-deficits-rising-even-before-tax-cuts
Even if Congress raises the debt limit and avoids default, last-minute brinksmanship alone has the potential to create economic damage.
https://www.pgpf.org/blog/2017/09/how-the-lack-of-action-on-the-debt-limit-can-hurt-the-economy
Debates over the debt ceiling and government shutdowns can be confusing, particularly in years when lawmakers must fund the government and raise the debt limit around the same time.
As Congress returns from its August recess, lawmakers face a to-do list filled with important fiscal deadlines.
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but provide long-run economic benefits for American families (in terms of real GNP growth) without inflicting undue damage on the U.S. economy in the near term.
Using its own economic and technical assumptions, CBO finds that the budget would not reach balance in 2027 as the administration projects — but instead the deficit would grow from $693 billion in 2017 to $720 billion in 2027.
https://www.pgpf.org/analysis/2017/07/cbo-debt-remains-high-under-presidents-budget
Federal Reserve Chair Janet Yellen emphasized the need for lawmakers to consider for the rising national debt — and its unsustainable trajectory — when considering policy choices.
https://www.pgpf.org/blog/2017/07/yellen-congress-should-factor-national-debt-into-policy-decisions