One of the most fundamental responsibilities of the federal government is to set and pass a budget every year, allocating funding towards the nation’s needs and priorities.
The words debt and deficit come up frequently in debates about the policy decisions that lawmakers face. The two concepts are similar, but are often confused.
The primary deficit focuses on the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.
The most recent projections from CBO confirm once again that America’s fiscal outlook is on an unsustainable path — increasingly driven by higher interest costs.
Federal Reserve Chair Jerome Powell, speaking in an interview, said that now is the time to start addressing our $34 trillion and rising national debt.
Significant majorities of voters across party lines agree that a commission would strengthen Social Security, lower borrowing costs, and improve our economic outlook.