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Here are five key takeaways from CBO’s latest projections that show the path of federal revenues, spending, and debt through 2050.
https://www.pgpf.org/blog/2020/09/new-cbo-report-pandemic-accelerates-existing-fiscal-challenges
A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.
https://www.pgpf.org/blog/2020/09/what-is-a-continuing-resolution
The Social Security Board of Trustees has been warning for years that the program faces funding shortfalls. In April, they released their annual report on the trust funds that finance the program.
The Internal Revenue Service (IRS) had issued 159 million direct payments to Americans — totaling nearly $267 billion — to help mitigate the financial burden of the COVID-19 pandemic.
https://www.pgpf.org/blog/2020/09/how-many-coronavirus-stimulus-checks-have-been-sent-out-so-far
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.
During the week that ended on September 5, 884,000 people filed for regular unemployment insurance, continuing a devastating trend in the labor market. Since March 15, 60 million individuals have filed a claim.
The coronavirus (COVID-19) pandemic has contributed to a significant budget crunch at the state level that threatens a range of basic government programs and services. Some states were better prepared than others to handle this crisis.
The Federal Reserve’s lending facilities are one of the many policy tools the central bank is using to stabilize the economy in response to the coronavirus (COVID-19) pandemic.
Today, the non-partisan Congressional Budget Office (CBO) released its baseline budget projections for the next decade – its first analysis to fully take into account the economic effects of the coronavirus (COVID-19) pandemic and the legislative response to it.
The economic impact of the coronavirus has been profound, but it has not been felt equally by all demographic groups.
https://www.pgpf.org/blog/2020/09/five-key-takeaways-from-the-unemployment-data