Latest
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Tax Cut Extensions Cost Over $3.3 Trillion
Some parts of the 2017 Tax Cuts and Jobs Act (TCJA) have recently expired or changed, and large portions of the TCJA will expire by the end of...
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Treasury Reports $1.6 Trillion Deficit For First 10 Months of Fiscal Year
The United States borrowed $1.6 trillion in the first ten months of fiscal year 2023, including $221 billion in July, according to the latest Monthly...
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CBO Estimates $1.6 Trillion Deficit For First 10 Months of Fiscal Year
In the first ten months of fiscal year 2023, the United States borrowed $1.6 trillion, with a $228 billion deficit in July, according to the latest...
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Retirees Face a $17,400 Cut if Social Security Isn't Saved
As the 2024 presidential campaign ramps up, candidates are facing pressure to pledge not to touch Social Security. While this pledge is framed as...
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The Deficit Was $2.3 Trillion Over Past Year
The federal budget deficit totaled $2.3 trillion over the past 12 months, up 65 percent from the $1.4 trillion deficit in Fiscal Year (FY) 2022 and...
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Rising Debt Could Reduce Income Growth by One-Third
A high and rising national debt poses a series of risks and threats, including slower income and wage growth. A new report from the Congressional...
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The World Economic Outlook Projects Stronger Growth and Still High Inflation
The International Monetary Fund (IMF) released its July 2023 World Economic Outlook, projecting global economic growth will fall from 3.5 percent in...
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Mike Pence's Plan to End Inflation
Last week, former Vice President and current GOP Presidential candidate Mike Pence released a multi-part plan meant to combat inflation by cutting...
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Build Your Own Child Tax Credit – A Web-Based Version
The Child Tax Credit (CTC) has become a topic of significant debate among policymakers as they wrestle with determining its appropriate size...
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U.S. Downgrade Shows the Importance of Taking Our Fiscal Situation Seriously
Fitch Ratings downgraded the U.S. credit rating from AAA to AA+ today, citing continued erosion of governance, fiscal deterioration, and growing...
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Site-Neutral Legislative Proposals Gaining Traction
One of the best ways to reduce health care costs would be to move towards “ site-neutral” payments and away from the current system’s inefficient...
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The Case for Raising the Social Security Retirement Age
The Committee for a Responsible Federal Budget’s Marc Goldwein recently appeared on the “Open to Debate” podcast to discuss the benefits of raising...