FISCAL BLOG

The CBO released new baseline projections today, which show that the nation will face daunting fiscal challenges over the next decade resulting from the existing structural mismatch between revenues and outlays as well as the enormous amount of borrowing necessary to address the pandemic and its economic effects.

As of January 29, 2021, the Department of the Treasury disbursed over $34 billion of the total $48 billion allocated to air carriers through the PSP1 and PSP2.

As lawmakers continue to explore policies to help the nation recover from the economic damage caused by the pandemic, a key part of the discussion is how stimulus checks should be structured and targeted for maximum effectiveness. Looking at recent spending and saving trends offers some clues.

The economic recovery is expected to continue and gross domestic product (GDP) will return to its pre-pandemic level by the middle of this year, according to the latest data from the Congressional Budget Office (CBO).

As the nation continues to battle the devastating effects of the pandemic, new data from the Bureau of Economic Analysis (BEA) shows a sharp drop in the rate of economic growth at the end of last year, while the nation’s economy overall remains significantly below pre-pandemic levels.

The Coronavirus Relief Fund provided $150 billion in direct federal fiscal support to governments in states, territories, and tribal areas.

It’s important for lawmakers to consider the many available policy options for improving that outlook.

The economic impact of the coronavirus has been profound, but it has not been felt equally by all demographic groups.

As the coronavirus (COVID-19) pandemic took hold, economic activity slowed and tax revenues in most states began to decline.

Our fiscal situation was already unsustainable, but COVID-19 certainly did not help. Learn how the pandemic compounded our financial challenges in 13 charts.