Legislation 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 MoreCBO 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.
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