
National Debt to Double in Size and Other Key Takeaways from the CBO Long-Term Outlook
The report highlights the structural misalignment in the country’s budget and the resulting unsustainable fiscal trajectory.
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The report highlights the structural misalignment in the country’s budget and the resulting unsustainable fiscal trajectory.
Setting a higher minimum wage would affect family incomes in a variety of ways, including increasing earnings for most low-wage workers and lifting some families out of poverty.
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.
The primary deficit focuses on the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.
https://www.pgpf.org/blog/2021/02/what-is-the-primary-deficit
The debt growing to double the size of GDP is, in many respects, a symbolic milestone — but it is a clear indicator of the monumentally unsustainable path of our fiscal trajectory.
https://www.pgpf.org/blog/2021/02/the-national-debt-will-grow-to-be-twice-the-size-of-the-economy
The CBO released new baseline projections today, which show that the nation will face daunting fiscal challenges over the next decade resulting from the existing structural mismatch between revenues and outlays as well as the enormous amount of borrowing necessary to address the pandemic and its economic effects.
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.
One key part of the CARES Act was the Coronavirus Relief Fund, which provided $150 billion in direct federal fiscal support to governments in states, territories, and tribal areas to cover expenditures incurred due to the COVID-19 public health emergency.
https://www.pgpf.org/blog/2021/01/what-was-the-coronavirus-relief-fund
As the United States borrows a significant amount of money to respond to the COVID-19 pandemic, let’s take a closer look at a few key characteristics of Treasury borrowing that can affect its budgetary cost.
https://www.pgpf.org/blog/2021/01/how-does-the-treasury-issue-debt
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/2020/12/what-is-a-continuing-resolution