CBO Director: Economy Rebounding but the Fiscal Situation Leaves the U.S. Vulnerable
America’s economic rebound from the pandemic seems to have begun, according to Phillip Swagel, the director of the nonpartisan Congressional Budget Office.
Read MoreThe 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.
Read MoreFirst 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.
Read MoreU.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.
Read MoreWhat’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.
Read MoreApril Unemployment Data Show Devastating Effects of the Coronavirus Pandemic on the Labor Market
To slow the spread of COVID-19, lawmakers have asked Americans to stay at home and have forced businesses to close.
Read MoreBudget Terms and Processes
Understanding what’s happening on Capitol Hill requires an understanding of the federal budget process. Here is a guide to some terms used regularly.
Read MoreDo 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.
Read MoreFed 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.
Read MoreThe President’s Budget Proposes Large Spending Cuts, but Leaves Debt at High Levels
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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