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The rising national debt carries substantial costs today and poses an even greater toll on America’s future.
The federal government has enacted five pieces of legislation that provide relief to individuals and corporations that have been affected by the COVID-19 pandemic. To finance those provisions, the Treasury Department has ramped up its borrowing.
Understanding the United States’ changing labor force can be a key part of understanding larger trends in the overall economy. Here are key characteristics of the foreign-born population and how they compare to the native-born population.
https://www.pgpf.org/blog/2021/07/the-foreign-born-labor-force-of-the-united-states
U.S. defense spending increased substantially from 2019 to 2020 relative to other countries.
A key provision of the ARP advances half of the expected credit for 2021 in periodic payments, which have now begun.
https://www.pgpf.org/blog/2021/07/what-to-know-about-the-new-monthly-child-tax-credit-payments
Adjustments to the U.S. corporate income tax system could influence the level of domestic investment, economic growth, and hiring; such adjustments would also alter the amount of revenues collected by the federal government, which would have an effect on the nation’s fiscal outlook.
While the United States does not currently have a nationwide free college program, a number of such initiatives have been proposed in the past few years.
https://www.pgpf.org/blog/2021/07/what-is-free-college-and-how-much-would-it-cost
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/2021/07/how-the-lack-of-action-on-the-debt-limit-can-hurt-the-economy
The outbreak of COVID-19 has been 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.
There were 850,000 jobs added in June, higher than expected by economists. However, the unemployment rate remains high, especially for non-white workers. Get the facts here.
https://www.pgpf.org/blog/2021/07/the-labor-market-recovery-strengthened-in-june