It’s Rare for Revenue Growth to Be This Weak
Revenues in 2018 didn’t even keep up with inflation, much less growth in nominal gross domestic product.
Read MoreCorporate Tax Receipts Took an Unprecedented Drop This Year
Corporate tax receipts dropped by 31% in 2018 — an unprecedented decline during a time of economic growth. What’s responsible for the plunge?
Read MoreWith Election Looming, Congress Returns to Full Agenda
Members of the United States House of Representatives and Senate return to Washington to face a number of important policy decisions and deadlines.
Read MoreHow Will the Rising Cost of Prescription Drugs Affect Medicare?
Rising costs of prescription drugs and their effect on Medicare could have serious consequences on our healthcare system and our nation’s fiscal well-being.
Read MoreLast Year’s Tax Law Did Not Simplify the System — It Added More Tax Breaks
Last year’s tax legislation was a key opportunity to simplify the tax code, but the TCJA actually increased the number of tax breaks.
Read MoreHow Have Tax Cuts Affected the Economy and Debt? Here’s What We Know So Far
The general consensus among economists is that the long-term effects of the TCJA will be higher debt and little change to underlying economic growth.
Read MoreTrump Administration Acknowledges Trillion-Dollar Deficits
The latest OMB report marks the first time that the administration has acknowledged that deficits will surpass $1 trillion in the near term.
Read MorePanetta: U.S. Headed for a “Death Spiral” of Deficits and Debt Unless Lawmakers Act
Unless addressed soon, the growing national debt will “seriously jeopardize and undermine the American economy,” said former Secretary of Defense Leon Panetta.
Read MoreTrustees Warn: Social Security’s Total Costs to Exceed Income for First Time Since 1982
The financial outlook for OASI has deteriorated, as the trust fund will be depleted one year sooner than projected last year.
Read MoreTrustees: Funding Challenges Threaten Medicare’s Future
The Medicare Hospital Insurance Trust Fund will be depleted in 2026, which is three years sooner than was projected in last year’s Trustees report.
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