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The Peter G. Peterson Foundation is a non-partisan, non-profit organization focused on building a brighter economic future for all Americans. Browse news from the Foundation, and read about our upcoming events.

Press Releases & Statements
As Coronavirus Pandemic Continues, Voters Remain Mindful of National Debt

“As this crisis continues, lawmakers are taking necessary action to confront the pandemic and help our nation recover. At the same time, voters are very concerned about our nation’s fiscal and economic future,” said Michael A. Peterson, CEO of the Peterson Foundation.

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May 27, 2020
Blog Posts
What Support Are Small Businesses Receiving During the Coronavirus Pandemic?

So far, federal measures to support small businesses have amounted to $760 billion.

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May 22, 2020
Blog Posts
How Has the Coronavirus Affected the U.S. Economic Outlook

Before the pandemic, the U.S. economy was in its longest expansion since World War II and had notably low unemployment. The pandemic and the resulting reductions in social and economic activity, however, have altered that trajectory.

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May 22, 2020
Blog Posts
The Coronavirus Pandemic Has Caused a Massive Increase in Claims for Unemployment Insurance

During the week that ended on May 16, 2.4 million people filed for unemployment insurance. That capped off a nine-week period during which a total of 39 million individuals filed a claim.

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May 21, 2020
Blog Posts
How Does the U.S. Economic Response to Coronavirus Compare to the Rest of the World?

COVID-19 has spread to nearly every country in the world, and to help reduce the health risk and save lives, many countries have imposed limitations on business activity, congregating, and traveling.

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May 21, 2020
Blog Posts
The United States Spends More on Defense than the Next 10 Countries Combined

U. S. defense spending increased substantially from 2018 to 2019 relative to other countries.

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May 15, 2020
Blog Posts
The Coronavirus Has Led to a Surge in Spending on Unemployment Compensation

The outbreak of COVID-19 has become 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.

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May 13, 2020
Blog Posts
How Many Coronavirus Stimulus Checks Have Been Sent Out So Far?

The IRS has issued about 130 million direct payments to Americans — totaling more than $200 billion — to help mitigate the financial burden of the COVID-19 pandemic.

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May 12, 2020
Blog Posts
The Coronavirus Caused the Deficit to Balloon in April — Usually a Surplus Month

A large decrease in revenues and a large increase in spending have led the Congressional Budget Office to estimate a deficit of $737 billion in April 2020.

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May 11, 2020
Blog Posts
April Unemployment Data Show Devastating Effects of the Coronavirus Pandemic on the Labor Market

In response to the COVID-19 pandemic, elected leaders have asked the American people to stay at home and have forced businesses to close to mitigate the spread of the virus.

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May 8, 2020
Blog Posts
What Role Has Federal Debt Played in the Response to the COVID-19 Pandemic?

The federal government has enacted four pieces of legislation that provide important relief to individuals and corporations that have been impacted by the COVID-19 pandemic.

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May 7, 2020
Infographics
Nearly 7 in 10 Americans Say Their Incomes Have Taken a Hit from the Pandemic

The latest Financial Times-Peterson Foundation US Economic Monitor reveals that the coronavirus pandemic is financially impacting the vast majority of Americans, and there is broad-based support for federal response measures.

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May 7, 2020
Infographics
The National Debt Is Now More than $25 Trillion. What Does That Mean?

Although the debt affects each of us, it may be difficult to put such a large number into perspective and fully understand its implications.

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May 6, 2020
Blog Posts
Breaking Down the $32 Billion of Airline Industry Payroll Support in Coronavirus Relief Legislation

As of May 4, 2020, the Treasury has disbursed roughly $12 billion of the total $32 billion allocated to the program.

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May 6, 2020
Blog Posts
What Is the Coronavirus Relief Fund? How Much Is Left in It?

As of May 5, 2020, the Treasury has disbursed 93 percent, or $140 billion, of the total $150 billion allocated in the Coronavirus Relief Fund.

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May 6, 2020
Blog Posts
First Economic Growth Report Under the Coronavirus: Real GDP Falls 4.8% in First Quarter

The decrease in GDP in the first quarter was driven by a decline in consumption and investment.

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April 29, 2020
Press Releases & Statements
As America Grapples with Coronavirus Pandemic, Voters See Growing Debt as Key Challenge for the Future

“While the most important national priority right now is addressing the significant health and economic impact caused by coronavirus, we all also understand that this crisis has enormous costs and impact on our fiscal position,” said Michael A. Peterson, CEO of the Peterson Foundation.

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April 28, 2020
Blog Posts
U.S. GDP to Fall 5.6% Due to Coronavirus, According to New CBO Projections

The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.

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April 24, 2020
Blog Posts
Here’s Everything Congress Has Done To Respond To The Coronavirus So Far

The recent outbreak of COVID-19 has caused a severe public health crisis as well as substantial economic disruption for every American.

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April 24, 2020
Blog Posts
Social Security and Medicare Faced Serious Shortfalls Even Before the Coronavirus

Social Security and Medicare are facing serious financial difficulty in the near future.

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April 24, 2020
Infographics
What's in the CARES Act? Here's a Summary

The largest emergency response bill in history, the CARES Act allocates $2 trillion in emergency funding to provide relief to households, small and large businesses, states and municipalities, and healthcare providers, among others.

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April 22, 2020
Blog Posts
​​Four Key Takeaways from the Early Unemployment Data

Here are four charts on who has been affected by the economic fallout from coronavirus pandemic.

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April 21, 2020
Blog Posts
Why Are Americans Paying More for Healthcare?

High healthcare spending is not necessarily a bad thing, especially if it leads to better health outcomes. However, that is not the case in the United States.

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April 20, 2020
Blog Posts
How Does the Treasury Issue Debt?

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.

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April 10, 2020
Blog Posts
Six Charts That Show How Low Corporate Tax Revenues Are in the United States Right Now

Compared to historical trends and other advanced economies, corporate tax revenues in the United States are at very low levels.

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April 1, 2020
Press Releases & Statements
As America Focuses on Healthcare Crisis and Economy, Growing Debt Remains a Concern

“America is going through an unprecedented national emergency, and we need to respond aggressively to address both the public health crisis and the economic risk,” said Michael A. Peterson, CEO of the Peterson Foundation.

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March 31, 2020
Press Releases & Statements
Peterson Foundation Statement on Fiscal Response to the Coronavirus

“The coronavirus outbreak is an unprecedented national emergency, and we need to respond aggressively to address both the public health crisis and the economic risk,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.

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March 23, 2020
Blog Posts
Why the American Healthcare System Underperforms

Healthcare in the United States is very expensive — but we don’t get what we pay for.

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March 20, 2020
Blog Posts
What is SNAP? An Overview of the Largest Federal Anti-Hunger Program

SNAP is the largest federal program aimed at combating hunger and food insecurity among low-income Americans.

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March 19, 2020
Blog Posts
Six of the Largest Tax Breaks Explained

Tax breaks totaled nearly $1.5 trillion in 2019. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare.

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March 17, 2020
Blog Posts
Five Approaches to Taxing Wealth in the United States

A number of current and former candidates have suggested adding new sources of revenue through various types of taxation of wealth.

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March 11, 2020
Explainers
What Is the Child Tax Credit?

The child tax credit (CTC) is a measure administered though the tax code that is designed to make raising children more affordable by easing the financial burden faced by families.

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March 11, 2020
Explainers
What Is the Earned Income Tax Credit?

The earned income tax credit (EITC) is a measure administered through the tax code to address poverty. It was first enacted in 1975 on a temporary basis amid broader debates about welfare reform and had the primary goal of encouraging people to obtain employment.

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March 11, 2020
Explainers
What is PAYGO?

PAYGO is a budget enforcement mechanism intended to prevent passage of legislation that increases deficits.

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March 9, 2020
Blog Posts
How Do Marginal Income Tax Rates Work — and What if We Increased Them?

Some lawmakers favor substantial increases to marginal tax rates. Let’s look at how marginal tax rates and brackets work.

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March 5, 2020
Blog Posts
What is a Wealth Tax, and Should the United States Have One?

A wealth tax would impose a levy on assets owned by an individual or household — as opposed to, for example, an income tax.

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March 3, 2020
Blog Posts
Four Simple Scenarios That Show How Marginal Rates and Tax Breaks Affect What People Actually Pay

As the 2020 campaign season swings into gear, the national debate about taxes — including tax rates, tax types, and tax fairness — is gaining prominence.

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March 3, 2020
Blog Posts
Millions Gained Healthcare Coverage under Obamacare, But That Trend Is Reversing

The proportion of the population who are uninsured began increasing in 2017.

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February 28, 2020
Blog Posts
How Does the Capital Gains Tax Work Now, and What Are Some Proposed Reforms?

The capital gains tax is a highly debated topic, as most presidential candidates have weighed in on how to revise it. Simply put, the capital gains tax is a levy on the profit received from the sale of a capital asset.

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February 28, 2020
Infographics
Voters Agree: The National Debt is a Bipartisan Priority for 2020 Election

A broad, bipartisan majority of voters agree that the national debt is a key issue for the 2020 campaign.

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February 28, 2020
Press Releases & Statements
With 2020 Election Underway, Voters Want More Progress on the National Debt

“Voters believe that managing our national debt is a top priority that should play a central role in this year’s election discussion,” said Michael A. Peterson, CEO of the Peterson Foundation.

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February 25, 2020
Blog Posts
Do Voters Care about the National Debt? The Polls Say They Do

Heading into 2020, the vast majority of Americans are urging leaders in Washington to address the unsustainable national debt and budget deficit.

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February 20, 2020
Analysis
President's Budget Again Relies on Optimistic Economic Projections and Unlikely Spending Cuts

Following the pattern of previous years, this budget largely relies on very optimistic projections of economic growth and unlikely budget cuts to reduce the deficit.

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February 14, 2020
Explainers
Budget Basics: The National Flood Insurance Program

The National Flood Insurance Program (NFIP) is run by the federal government to reduce the impact of flooding on private and public structures.

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February 12, 2020
Blog Posts
Fed Chair Powell Encourages Congress to Address Rising Debt before Next Downturn

Powell noted that the current economic expansion is the longest on record and emphasized the need to consider the long-term implications of fiscal policy.

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February 11, 2020
Blog Posts
The President's Budget Proposes Large Spending Cuts, but Leaves Debt at High Levels

Today, President Trump released his fourth budget, which outlines the administration’s policy proposals, budget projections, and economic forecast for the next decade.

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February 10, 2020
Press Releases & Statements
Peterson Foundation Statement on President’s Budget Proposal

“Today’s budget proposal relies on optimistic projections for economic growth and unlikely budget cuts to illustrate deficit reduction,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.

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February 10, 2020
Blog Posts
Economists Agree: The National Debt is a Long-Term Concern for America

Although a range of views exists about optimal near-term fiscal policy, economists agree that America’s mounting debt presents significant challenges for our budget and the economy, particularly over the long term.

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February 7, 2020
Analysis
CBO Report Highlights America’s Unsustainable — and Deteriorating — Fiscal Outlook

The latest report from the non-partisan Congressional Budget Office (CBO) reiterates that the federal budget is on an unsustainable trajectory.

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February 6, 2020
Press Releases & Statements
Peterson Foundation Statement Ahead of President’s State of the Union Address

“By any measure, the state of the Union’s fiscal outlook is unsustainable, and getting worse,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.

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February 4, 2020
Blog Posts
Economic Growth Was Weaker in 2019 than in 2018

Growth in 2019 was lower than the 2.9 percent growth in 2018. Key factors contributing to this drop include a significant slowing in the growth of nonresidential investment and, to a slightly lesser degree, slower growth in the consumption of goods and services.

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January 31, 2020
Press Releases & Statements
As America Enters Era of Trillion-Dollar Deficits, Voters Want Action on the Debt

“As the 2020 election begins, Americans are looking for leadership and solutions to our growing debt problem,” said Michael A. Peterson, CEO of the Peterson Foundation.

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January 31, 2020
Blog Posts
A Look at the Foreign-Born Labor Force in the United States

Understanding the United States’ changing labor force can be a key part of understanding larger trends in the overall economy. Here are key characteristics of the foreign-born population and how they compare to the native-born population.

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January 30, 2020
Blog Posts
Five Troubling Takeaways from the Latest CBO Report

As voting begins for the 2020 election season, the majority of Americans believe that addressing the national debt is a crucial issue that warrants action from policymakers.

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January 28, 2020
Press Releases & Statements
Peterson Statement on CBO Report: Ten Straight Years of Trillion-Dollar Deficits

“Today’s CBO report shows ten straight years of trillion-dollar deficits. That’s a sad reflection of our nation’s poor fiscal health, and it adds insult to injury that we’re piling on all this debt in a growing economy,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.

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January 28, 2020
Blog Posts
Decade in Review: Looking Back at CBO Projections Then and Now

As one decade ends and another begins, there’s no question that our fiscal outlook is daunting. But as we mark this milestone, it’s also helpful to take a closer look at projections from 10 years ago to assess how decisions by lawmakers and other factors have contributed to our fiscal outlook.

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January 7, 2020
Press Releases & Statements
Voters Concerned about Fiscal Irresponsibility in Washington as Lawmakers Add Red Ink

“As another unfortunate year of fiscal irresponsibility comes to a close, voters are sending a clear message to Washington that they want fiscal leadership,” said Michael A. Peterson, CEO of the Peterson Foundation.

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January 7, 2020
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The Fiscal Response to the Coronavirus

Here’s everything Congress has done to respond to the coronavirus so far.

National Debt Clock

See the latest numbers and learn more about the causes of our high and rising debt.