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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.

Blog Posts
How Much of the Latest Federal Stimulus Will Go to State and Local Governments?

One key component of the $1.9 trillion package is an estimated $362 billion in federal aid to state, local, territorial, and tribal governments to cover expenditures incurred due to the public health emergency.

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April 15, 2021
Explainers
What is Inflation and Why Does it Matter?

Here’s an overview of inflation, why it matters, and how it’s managed.

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April 14, 2021
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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April 13, 2021
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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April 13, 2021
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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April 12, 2021
Explainers
Payroll Taxes: What Are They and What Do They Fund?

Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.

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April 8, 2021
Blog Posts
The United States Forgoes Hundreds of Billions of Dollars Each Year Due to Unpaid Taxes

Cracking down on the tax gap would not only introduce more fairness into the system, but it could be a big help for our nation’s fiscal imbalance — to the tune of hundreds of billions of dollars every year.

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April 6, 2021
Blog Posts
What’s in Biden's Infrastructure Plan and How He Proposes Paying for It

On March 31, 2021, President Biden released details for a proposed American Jobs Plan — a nearly $2.7 trillion package aimed at addressing a range of issues, including transportation and other infrastructure, climate change, caregiving, and housing.

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April 6, 2021
Explainers
Budget Basics: Who Pays Taxes?

The fairness of our federal tax system is a hotly debated issue. Too often, however, those debates confuse or misrepresent important facts because they focus on one type of tax in isolation rather than the various taxes that people face in aggregate.

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April 6, 2021
Blog Posts
How is the Government Supporting Small Businesses During the Coronavirus Pandemic?

America’s small businesses have been severely impacted by the economic downturn caused by the pandemic — and lawmakers have focused a significant part of federal relief on helping this critical part of our economy.

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April 5, 2021
Blog Posts
March Showed Positive Signs for the Labor Market Recovery

There were 916,000 jobs added in March, which suggests that the labor market recovery is accelerating. However, the unemployment rate remains high, especially for non-white workers.

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April 5, 2021
Press Releases & Statements
Peterson Foundation Grant to Fuel Northwestern COVID-19 Research

New $1 million research initiative will help inform and improve pandemic relief and recovery policies.

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April 1, 2021
Blog Posts
Long-Term Unemployment Has Quadrupled, and That's a Problem for the Economy

The number of individuals experiencing long-term unemployment (lasting 27 weeks or longer) has quadrupled during the coronavirus (COVID-19) pandemic.

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April 1, 2021
Press Releases & Statements
U.S. Fiscal Confidence Drops as Pandemic Accelerates America’s Debt Challenges

“Voters understand that we are continuing to endure a terrible public health and economic crisis, but they also realize that we are piling on trillions of debt to what was already an unsustainable fiscal outlook,” said Michael A. Peterson, CEO of the Peterson Foundation.

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March 30, 2021
Blog Posts
How Has the Coronavirus Pandemic Affected Federal Spending on SNAP?

Since April 2020, the federal government has spent an average of $9 billion per month on SNAP — 71 percent higher than the amount spent in March 2020 (before the pandemic was widely recognized).

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March 23, 2021
Blog Posts
It’s Been 28 Years Since We Last Raised the Gas Tax, and Its Purchasing Power Has Eroded

The decline in purchasing power has important implications for the federal budget and our nation’s infrastructure, and has led some to call for a new effort to address the gas tax.

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March 16, 2021
Blog Posts
What to Know About All Three Rounds of Coronavirus Stimulus Checks

Three sets of stimulus checks have been issued to eligible recipients as part of the pandemic relief. Each set of payments have been slightly different.

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March 15, 2021
Blog Posts
Here’s Everything the Federal Government Has Done to Respond to the Coronavirus So Far

The coronavirus pandemic has caused a severe public health crisis as well as substantial economic disruption for every American. So far, lawmakers have enacted five separate pieces of legislation.

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March 15, 2021
Blog Posts
The Coronavirus Has Led to a Surge in Spending on Unemployment Compensation

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.

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March 12, 2021
Infographics
What's In the American Rescue Plan?

Here's a breakdown of the major programs in the American Rescue Plan and how much they cost.

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March 10, 2021
Blog Posts
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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March 4, 2021
Press Releases & Statements
Peterson Statement on CBO’s Long-Term Outlook

“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.

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March 4, 2021
Infographics
The National Debt Is Now More than $28 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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March 2, 2021
Blog Posts
Here's How Raising the Minimum Wage Would Affect Everything from Household Incomes to the National Debt

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.

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February 26, 2021
Press Releases & Statements
Voters See Difficult Debt Challenge Ahead: 76% Say Concern has Increased

“As overcoming this pandemic continues to be a top priority, voters are also becoming more concerned about America’s rapidly worsening fiscal condition,” said Michael A. Peterson, CEO of the Peterson Foundation.

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February 24, 2021
Explainers
How Do States Pay for Medicaid?

Medicaid’s role in state budgets is unique, since the program acts as both an expenditure and the largest source of federal support in state budgets.

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February 22, 2021
Blog Posts
Uninsured Rate on the Rise Again As Nation Deals with COVID

After a promising decline in recent years, the number of Americans without health insurance is back on the rise.

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February 18, 2021
Blog Posts
What is the Primary Deficit?

The primary deficit focuses on the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.

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February 18, 2021
Blog Posts
The National Debt Will Grow to Be Twice the Size of the Economy

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.

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February 16, 2021
Blog Posts
Pandemic Fuels Record-Breaking Deficits — and Other Key Takeaways from the Latest CBO Report

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.

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February 11, 2021
Press Releases & Statements
Peterson Statement on CBO 10-Year Budget and Economic Outlook

“This new report provides the latest evidence that our fiscal condition has worsened significantly since the pandemic began, and will need to be addressed once we’re through the COVID crisis,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.

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February 11, 2021
Blog Posts
How Are We Paying for the Federal Response to the Coronavirus?

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.

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February 5, 2021
Blog Posts
Breaking Down the $48 Billion of Airline Industry Payroll Support in Coronavirus Relief Legislation

As of January 29, 2021, the Department of the Treasury has disbursed over $34 billion of the total $48 billion allocated to air carriers through the PSP1 and PSP2.

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February 3, 2021
Blog Posts
Should Stimulus Checks Go to Higher-Income Americans?

As lawmakers continue to explore policies to help the nation recover from the economic damage caused by the pandemic, a key part of the discussion is how stimulus checks should be structured and targeted for maximum effectiveness. Looking at recent spending and saving trends offers some clues.

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February 2, 2021
Blog Posts
New Projections for unemployment, GDP, inflation and interest rates

The economic recovery is expected to continue and gross domestic product (GDP) will return to its pre-pandemic level by the middle of this year, according to the latest data from the Congressional Budget Office (CBO).

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February 2, 2021
Explainers
What is Budget Reconciliation?

Reconciliation provides for expedited consideration of certain legislation; its use is particularly important in the Senate because it limits the time allowed for debate and prevents the inclusion of non-budgetary provisions.

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February 1, 2021
Blog Posts
Q4 GDP Continues to Grow, Though at a Much Slower Pace

As the nation continues to battle the devastating effects of the pandemic, new data from the Bureau of Economic Analysis (BEA) shows a sharp drop in the rate of economic growth at the end of last year, while the nation’s economy overall remains significantly below pre-pandemic levels.

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January 29, 2021
Blog Posts
The Federal Reserve Holds More Treasury Notes and Bonds than Ever Before

Beginning in mid-March 2020, the Federal Reserve initiated an aggressive policy of quantitative easing — which involves the purchase of government securities, corporate bonds, and other financial instruments — with the aim of keeping interest rates low and injecting cash into the economy.

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January 27, 2021
Blog Posts
What Was the Coronavirus Relief Fund?

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.

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January 27, 2021
Press Releases & Statements
As New Administration and Congress Address Range of National Challenges, Voters Remain Mindful of National Debt

“With the nation still in the grips of a devastating public health and economic crisis, President Biden and the new Congress are right to explore additional relief and recovery legislation, but it’s also critical that we remain mindful of our long-term fiscal outlook, which has gotten far worse as our debt now exceeds the size of our economy,” said Michael A. Peterson, CEO of the Peterson Foundation.

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January 26, 2021
Blog Posts
What Types of Securities Does the Treasury Issue?

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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January 25, 2021
Explainers
Budget Basics: Medicaid

This budget explainer describes what Medicaid is, how it is financed, and who benefits from it.

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January 21, 2021
Infographics
President Biden and the New Congress Face a Range of Complex and Urgent Policy Issues

Putting our economy on a path to recovery continue to be the most pressing priorities for our nation. At the same time, our fiscal outlook has worsened considerably.

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January 19, 2021
Explainers
Budget Basics: National Defense

The United States spent $686 billion on national defense during fiscal year (FY) 2019 according to the Office of Management and Budget, which amounts to 15 percent of the federal budget.

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January 11, 2021
Press Releases & Statements
Fiscal Confidence Remains Low as Americans Look ahead to 2021

“The nation remains in the grips of a devastating health and economic crisis caused by the pandemic. Overcoming the virus remains the nation’s top priority, but the vast majority of Americans also recognize the need to address our unsustainable fiscal outlook once this crisis is over,” said Michael A. Peterson, CEO of the Peterson Foundation.

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January 8, 2021
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See the latest numbers and learn more about the causes of our high and rising debt.