Infographic: President Biden and Congress Face a Range of Complex and Urgent Policy Issues
Last Updated January 19, 2021
Defeating COVID-19 and putting our economy on a path to recovery continue to be the most pressing priorities for our nation. At the same time, our fiscal outlook has worsened considerably — and once the pandemic is over, lawmakers will need to return to managing our historically high national debt. Below is a look at the fiscal and economic landscape that policymakers will inherit.
Further Reading
President’s Budget Would Reduce Deficits by Raising Taxes on the Wealthy and Corporations
While this budget would be a step in the right direction, it does not adequately address the underlying structural imbalance that defines our fiscal outlook.
Moody’s Lowers U.S. Credit Rating to Negative, Citing Large Federal Deficits
On November 10, 2023, Moody’s Investors Service lowered its outlook on the United States’ credit rating from “stable” to “negative.”
What the Fitch Downgrade Says about our Fiscal Challenges
Fitch Ratings recently downgraded the U.S. long-term credit rating from its top mark of AAA to AA+.