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The United States is on pace to lead the world in debt increase as a percentage of GDP.
https://www.pgpf.org/chart-archive/0310_us_lead_world_debt_increase
Foreign investors own one-third of all U.S. public debt.
https://www.pgpf.org/chart-archive/0311_us_domestic_foreign_debt
Since March 15, more than 65 million claims for regular unemployment insurance have been filed due to COVID-19. Find weekly updated statistics here.
The answer to how to address the multitude of challenges and their disproportionate impact is to pay for it — set priorities and ensure there is revenue to meet those priorities — not through smoke and mirrors or budget gimmicks.
https://www.pgpf.org/expert-views/americas-fiscal-and-economic-outlook/debt-matters
High inflation breeds instability, raising the risk of both higher interest rates and recession.
Inflation’s legacy of higher real interest rates poses a significant danger to the federal budget.
In 2022, America faces key questions about rising inflation, new COVID variants, growing national debt and an uncertain economic recovery. To help shed light on a complex set of factors and indicators, the Peterson Foundation brought together two leading experts for the latest edition of the Economic Forum.
Fixing the budget requires addressing the root cause of the long-term deficits: escalating Social Security and Medicare shortfalls.
We can’t return to the low-inflation, low-interest rate world; we can only go forward through the wormhole the pandemic opened.