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If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences for both the federal government and the economy.
In its annual report on income and poverty, the U.S. Census Bureau publishes data on national economic measures such as household income, earnings, wealth, employment, and poverty.
These charts tell the fiscal story of 2021 — looking back at how our fiscal situation deteriorated over the past year and what challenges lie ahead.
A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.
Here is a breakdown of the estimated remaining $850 billion in funds for COVID-19 relief programs.
The Build Back Better Act includes spending on a wide variety of policy areas. If enacted, the legislation would provide benefits for many lower-income households and take steps to address climate change and other social investments.
Income levels for Americans vary across geography, race, and gender.
Despite lawmakers’ claims, analysts anticipate that a large portion of the spending called for by the infrastructure package will need to be deficit financed.
With our economy in recovery, the national debt rising unsustainably, the country still grappling with a devastating pandemic, and lawmakers pursing significant new legislation, America faces many critical questions for its future. To shed light on the best way forward, two top economists participated in a panel discussion as part of the latest edition of the Peterson Foundation Economic Forum.