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Top 10 Reasons Why the National Debt Matters

At $39 trillion and rising, the national debt threatens America’s economic future. Here are the top ten reasons why the national debt matters.

Chart Pack: The U.S. Budget

A selection of key charts that give an overview of the major components in the U.S. federal budget.

A Brief History of U.S. Government Shutdowns

Government shutdowns (and the threat of them) are a recent phenomenon and something other developed countries don’t contend with.

What Are the Consequences of a High and Rising National Debt?

The high and rising national debt harms the economy, makes life less affordable, and jeopardizes the economic prosperity of Americans.

Budget Basics: How Does Social Security Work?

Social Security is the largest single program in the federal budget and typically makes up one-fifth of total federal spending.

Four Reasons Why a Government Shutdown Is Harmful

It may be counterintuitive, but government shutdowns are expensive. They are also bad for the economy.

The Federal Government Has Borrowed Trillions. Who Owns All that Debt?

Most federal debt is owed to domestic holders, but foreign ownership is much higher now than it was about 50 years ago.

The Highway Trust Fund Explained

The funding structure of the Highway Trust Fund requires serious, long-term changes, but how to approach reform remains a topic of debate.

What Is the SALT Cap?

The deduction of state and local tax payments from federal income taxes has been a subject of debate among economists and policymakers over the past few years — with significant implications for our budget and fiscal outlook.

What Is Stepped-Up Basis on Capital Gains and How Does It Affect the Federal Budget?

The step-up in basis is a provision in tax law that relates to how assets — such as stocks, bonds, or real estate — are valued and taxed after their owner passes away.