The Gap Between Federal Spending and Revenues Has Grown Rapidly During the Pandemic
COVID-19 has contributed to a rising gap between federal spending and revenues.
Read MoreWhat Are Overseas Contingency Operations?
Military activities are funded by federal appropriations. Learn more about how military spending is used to meet national priorities in war zones.
Read MoreHow Did the Fiscal Response to the Coronavirus Help the Economy?
Real GDP could have contracted by an annualized 46.2 percent in the second quarter if there had not been any fiscal response.
Read MoreWhat Are Federal Reserve Lending Facilities? How Will They Support the Economy during the Pandemic?
The Federal Reserve’s lending facilities are one of the many policy tools the central bank is using to stabilize the economy in response to the pandemic.
Read MoreCoronavirus Executive Actions Highlight Our Broken Budget Process
President Trump signed executive actions related to unemployment insurance, payroll tax relief, student debt, and housing evictions.
Read MoreIMF Releases Most Pessimistic Economic Projections for the United States to Date
The IMF estimates that real GDP in the United States will fall by 8 percent in 2020, according to the latest update to their World Economic Outlook report.
Read MoreReal GDP Falls a Record-Breaking 32.9% in Second Quarter
New economic growth statistics confirm that the American economy continues to suffer historic damage during the coronavirus pandemic.
Read MoreLegislation to Fight Coronavirus Pandemic Has Reduced Federal Revenues by $500 Billion
Coronavirus relief legislation is expected to increase federal deficits by $2.4 trillion over the next decade.
Read MoreSee How the Coronavirus Has Impacted 10-Year Projections for GDP and More
It’s going to take at least a decade for the labor market to recover from the coronavirus pandemic, according to the latest data from the CBO.
Read MoreWhat Are Estate and Gift Taxes and How Do They Work?
Estate and gift taxes are levied on the transfer of assets. Two areas of the tax code that are relatively small in dollar terms, but can generate a significant amount of attention and even controversy in the broader conversation about wealth.
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