FISCAL BLOG

Compared to historical trends and other advanced economies, corporate tax revenues in the United States are low.

Many options exist to reduce the imbalance between spending and revenues, including additional taxes on wealthier Americans.

Healthcare spending in the United States totaled 18.3 percent of gross domestic product (GDP) in 2021.

The United States has one of the most expensive health systems in the world.

Healthcare costs are notoriously high in the United States, and the price of prescription drugs is a big reason why.

Responsible fiscal policy can play an important complementary role to monetary policy in helping to moderate inflation.

Earlier this year, the United States once again hit its debt ceiling, which is currently capped at $31.4 trillion.

Borrowing costs have increased rapidly over the past year and will grow through the next decade.

CUTGO is short for “cut-as-you-go,” and it is an internal rule used by the House of Representatives, meaning that it does not apply to consideration of legislation in the Senate.

There’s no doubt America’s fiscal problems are serious and significant, but CBO’s assortment of options offers lawmakers a deep playbook of spending and revenue changes that would put us on a better path.