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Despite improvements to the labor market since the start of the COVID-19 pandemic, the unemployment rate remains high, especially for non-white workers. Get the facts here.
The report highlights the structural misalignment in the country’s budget and the resulting unsustainable fiscal trajectory.
“Today’s report provides a troubling snapshot of America’s fiscal outlook, which we know will only get worse from here,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2021/03/peterson-statement-on-cbos-long-term-outlook
Although the debt affects each of us, it may be difficult to put such a large number into perspective and fully understand its implications.
https://www.pgpf.org/infographic/the-national-debt-is-now-more-than-28-trillion-what-does-that-mean
The PGPF chart pack illustrates that budget-making involves many competing priorities, limited resources, and complex issues.
Most federal revenues come from individual income and payroll taxes
As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries.
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.
Unlike during other recessions, revenues from the capital gains tax have remained relatively steady throughout the COVID-19 pandemic.
https://www.pgpf.org/chart-archive/0317_capital_gains_revenues
