FISCAL BLOG

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.

Interest rates on Treasury securities are rising faster than most economists anticipated earlier in the year, with potentially serious consequences for the nation’s fiscal position.

Just eight actions over the past two years will add an estimated $2.3 trillion to deficits between 2021 and 2031.

These charts tell the fiscal story of 2022 — looking back at how our fiscal situation deteriorated over the past year and what challenges lie ahead.

Mounting federal debt can cause interest rates to rise significantly, according to a new report released by the American Enterprise Institute (AEI).

One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.

Proponents argue that a well-designed benefit reduction policy would improve the equitability by better balancing the payouts between low- and high-income earners.